Massachusetts General Laws
Chapter 63 - Taxation of Corporations
Section 7 - Effect of Assessment on Other Levies

Massachusetts General Laws

Part I - Administration of the Government

Title IX - Taxation

Chapter 63 - Taxation of Corporations

Section 1 - Definitions

Section 2 - Financial Institutions; Excise Rate

Section 2a - Financial Institutions; Determination of Net Income

Section 2b - S Corporations; Excise Rate; Determining Factors of Amount

Section 7 - Effect of Assessment on Other Levies

Section 20 - Premiums Subject to Taxation; Rate

Section 21 - Additional Tax on Foreign Companies

Section 22 - Domestic Companies Other Than Life; Premiums Subject to Taxation; Rate

Section 22a - Domestic Companies; Annual Total Gross Investment Income Earned Tax

Section 22b - Investment Privilege Excise; Net Investment Income

Section 22c - Credit Against Investment Privilege Excise

Section 22d - Gains, Determination for Investment Privilege Excise Purposes; Definitions

Section 23 - Foreign Companies; Premiums Subject to Taxation; Rate

Section 24 - Deductions

Section 24a - Retaliatory Taxes; Applicability and Reciprocal Exemption; Definition

Section 26 - Examination of Records

Section 28 - Payment; Time; Basis for Liability

Section 29 - Liability for Taxes

Section 29a - Fire and Marine Companies; Tax on Underwriting Profit; Computation

Section 29b - Taxation of Reciprocal or Inter-Insurance Exchange Agents

Section 29c - Life Insurance Companies; Credits Against Taxes Imposed by Secs. 20 and 22

Section 29d - Property and Casualty Insurance Companies; Taxes on Premiums; Credits Against Taxes Imposed by Secs. 22 and 23

Section 29e - Definitions; Property and Casualty Insurance Companies; Retaliatory Taxes; Credits Against Taxes Imposed by Sec. 22

Section 30 - Definitions; Value of Tangible Property; Net Worth

Section 31a - Investment Credit for Certain Corporations; Limitations

Section 31c - Credit for Certain Corporations; Increase in Number of Full-Time Employees

Section 31d - Definitions Applicable to Secs. 31d to 31f

Section 31e - Credit for Company Shuttle Van Purchase or Lease Expenses

Section 31f - Vanpool Vehicle Registration; Fee

Section 31h - Definitions; State Low-Income Housing Tax Credit; Eligibility; Allocation; Recapture

Section 31i - Transactions With Related Members; Adding Back of Certain Deductions

Section 31j - Deductible Interest; Interest Paid to Related Member; Taxpayer's Burden to Show Disallowance of Deduction Unreasonable

Section 31k - Deductible Interest; Adjustments; Applicability

Section 31l - Medical Device Company Tax Credit; Credit Transfer Program

Section 31m - Life Sciences Tax Credit

Section 31n - Determination of Gross Income; Adjustment to Federal Gross Income

Section 32b - Combined Reporting; Corporations Subject to Combination; Apportionment of Income; Joint and Several Liability; Regulations; Affiliated Group Election

Section 32c - Maximum Amount of Credits; Carryover

Section 32d - S Corporations; Net Income Measure

Section 32e - Application and Refund of Credits Earned Under Sec. 38x; Substantiation of Claims; Regulations

Section 38 - Determination of Net Income Derived From Business Carried on Within Commonwealth

Section 38a - Taxable Net Income

Section 38b - Financial Institutions and Business Corporations Engaged Exclusively in Buying, Selling, Dealing in or Holding Securities; Excise Rate

Section 38d - Deduction of Expenditures for Industrial Waste Treatment or Air Pollution Control Facilities

Section 38e - Eligible Business Facility; Excise Credit

Section 38f - Deduction From Net Income for Compensation Paid to Individuals Employed by Eligible Business Facility Domiciled in Present or Former Eligible Section of Substantial Poverty

Section 38g - Reporting Wholly-Owned Disc Income

Section 38h - Alternative Energy Sources; Deduction

Section 38i - Wages Deemed Compensation Paid in Commonwealth; Deduction; Election

Section 38j - Qualified Research Contribution Deduction

Section 38l - Natural Heritage and Endangered Species Fund; Contributions

Section 38m - Credit Against Amount of Excise Due; Research Expenses

Section 38n - Economic Development Incentive Program; Tax Credit for Certified Projects

Section 38o - Economic Target Areas; Tax Deduction for Renovation of Abandoned Buildings

Section 38p - Harbor Maintenance Taxes; Credit

Section 38q - Environmental Response Actions; Credit

Section 38r - Massachusetts Historic Rehabilitation Tax Credit

Section 38s - Automatic Sprinkler System; Depreciation Deduction

Section 38u - Credit for Cost of Qualifying Property; Life Sciences

Section 38v - Deductions for Qualifying Clinical Testing Expenses; Certified Life Sciences Company

Section 38w - Credit for Qualified Research Expenses; Life Sciences

Section 38x - Credit Against Taxes Imposed on Persons Filming Motion Picture for Employment of Persons Within Commonwealth in Connection With Filming or Production

Section 38y - Unrelated Business Taxable Income for Certain Exempt Corporations

Section 38z - Dairy Farm Tax Credit Program

Section 38aa - Credit Against Taxes Imposed for Qualified Donation of Certified Land to Public or Private Conservation Agency

Section 38bb - Credit Against Taxes Imposed for a Certified Housing Development Project

Section 38cc - Life Sciences Refundable Jobs Credit

Section 38dd - Credit Against Excise Tax Imposed Under Secs. 2(b), 2b(b) or 39(b)

Section 38ee - Community Investment Tax Credit

Section 38gg - Hiring of Qualified Veterans; Excise Tax Credit

Section 38hh - Credit for Wages Paid to Qualified Apprentice

Section 38ii - Cranberry Production

Section 38jj - Tax Credits for Qualified Employees With Disabilities

Section 39 - Tax Rate

Section 39a - Tax on Business Subsidiary Corporation

Section 42 - Alternative Method of Determining Net Income

Section 42a - Taxable Net Income

Section 42b - Manufacturing and Research and Development Corporations

Section 52 - Unconstitutionality of Excise Tax Law; Effect; Revival of Former Act

Section 55 - Valuation

Section 58 - Tax Rate

Section 59 - Assessment of Additional Taxes

Section 67 - Assessment; Rate; Return; Deductions

Section 68 - Effect on Other Taxes

Section 68a - Conflict Between Local and State Valuations; Remedy

Section 68c - Exemption From Excise Under Sec. 39 for Certain Business Corporations

Section 69 - Inspection of Records; Examination of Officers

Section 79 - Penalty for Failure to Make Return for Corporate Franchise Tax

Section 80 - Collection of Penalties

Section 81 - Local Taxation, Defined