Bill Text: MA H2790 | 2009-2010 | 186th General Court | Introduced
Bill Title: Provide tax incentives for the creation of certain high wage jobs
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2009-01-20 - Public Hearing date 7/8 at 10:00 AM in Hearing Room B2 [H2790 Detail]
Download: Massachusetts-2009-H2790-Introduced.html
The Commonwealth of Massachusetts
_______________
PRESENTED BY:
Bradley H. Jones, Jr.
_______________
To the
Honorable Senate and House of Representatives of the Commonwealth of
Massachusetts in General
Court assembled:
The undersigned legislators and/or citizens respectfully petition for the passage of the accompanying bill:
An Act Relative to Incentivizing High Wages for New Employees.
_______________
PETITION OF:
Name: |
District/Address: |
Bradley H. Jones, Jr. |
20th Middlesex |
Viriato Manuel deMacedo |
1st Plymouth |
George N. Peterson, Jr. |
9th Worcester |
Elizabeth Poirier |
14th Bristol |
Paul K. Frost |
7th Worcester |
Susan Williams Gifford |
2nd Plymouth |
Bradford R. Hill |
4th Essex |
Richard J. Ross |
9th Norfolk |
Todd M. Smola |
1st Hampden |
Robert S. Hargraves |
1st Middlesex |
Daniel K. Webster |
6th Plymouth |
The Commonwealth of
Massachusetts
_______________
In the Year Two Thousand and Nine
_______________
An Act Relative to Incentivizing High Wages for New Employees.
Be
it enacted by the Senate and House of Representatives in General Court
assembled, and by the authority of the same, as follows:
SECTION 1: Section 31M of chapter 63, as appearing in the
2006 Official Edition, is hereby amended by adding at the end thereof the
following: -
Section 631N: (a) For the purposes of this section, the following words shall
have the following meanings:-
“Average wage”, the mean salary for all full time employees in a qualifying
small business for the previous two calendar years.
“Commissioner”, the commissioner of revenue.
“Eligible job”, any new direct job created by a qualifying small business that:
(a) did not exist in the previous calendar year; (b) pays a salary of at least
150 per cent of the average wage of the qualifying small business; and (c)
requires the duties of the new employee to be performed in at least 1 in-state
location, including jobs performed by persons that are transferred within the
company to work at an in-state location from a location based outside the
commonwealth.
“Full time employee”, a person who is employed for at least 35 hours per week
and whose salary is subject to withholding as provided in chapter 62B.
“High wage incentive payment”, a business employment incentive payment for
qualifying small businesses as provided for in this section.
“Qualifying small business”, a business that had total annual sales in its most
recently completed fiscal year of less than five million dollars, or has less
than 100 employees, and has a principal place of business in the commonwealth.
(b) For each taxable year from January 1, 2009 to December 31, 2011, a
qualifying small business that creates a minimum of 1 and a maximum of 5 eligible
jobs in the commonwealth during a single calendar year shall be entitled to a
high wage incentive payment equal to a 6 per cent credit against its excise due
under this chapter.
(c) If a taxpayer is subject to a minimum excise under this chapter, the amount
of credit allowed shall not reduce the excise to an amount less than the
minimum excise.
(d) A taxpayer entitled to a credit under this section for any taxable year may
not carry over its excise for any succeeding taxable year. A qualifying small business
that has previously been approved to receive a high wage incentive payment for
any particular eligible job shall not be eligible to receive said payment for
more than one calendar year. A qualifying small business may apply to
receive a high wage incentive payment that relates to a different application
in the same calendar year or a different application in a different calendar
year.
(e) A qualifying small business that seeks a high wage incentive payment shall
apply to the commissioner to receive such payment on a form to be prescribed by
the commissioner. This form shall reference the necessary information
concerning the eligible jobs created by the company in the commonwealth during
the application year and also the company’s average wage for such year and the
previous calendar year. The commissioner shall advise the company of his
determination in writing.