Massachusetts § 38DD Credit against excise tax imposed under Secs. 2(b), 2B(b) or 39(b)

Massachusetts Statutes

§ 38DD — Credit against excise tax imposed under Secs. 2(b), 2B(b) or 39(b)

Massachusetts § 38DD

Part IADMINISTRATION OF THE GOVERNMENT

Title IXTAXATION

Ch. 63TAXATION OF CORPORATIONS

This text of Massachusetts § 38DD (Credit against excise tax imposed under Secs. 2(b), 2B(b) or 39(b)) is published on Counsel Stack Legal Research, covering Massachusetts primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mass. Gen. Laws ch. 63, § 38DD (2026).

Text

Section 38DD.

(a)A corporation formed under chapter 156D and taxable under this chapter shall receive a nontransferrable credit against an excise tax imposed under subsection (b) of section 2, subsection (b) of section 2B or subsection (b) of section 39.

(b)A corporation shall only be eligible for a credit under subsection (a) for the first 3 years in which it is required to file a return under this chapter; provided, however, that such credit shall not be allowed to any corporation with 50 per cent or more of its voting stock owned by another corporation, whether or not such owning corporation is taxable in the commonwealth.

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Section 38DD. (a) A corporation formed under chapter 156D and taxable under this chapter shall receive a nontransferrable credit against an excise tax imposed under subsection (b) of section 2, subsection (b) of section 2B or subsection (b) of section 39.(b) A corporation shall only be eligible for a credit under subsection (a) for the first 3 years in which it is required to file a return under this chapter; provided, however, that such credit shall not be allowed to any corporation with 50 per cent or more of its voting stock owned by another corporation, whether or not such owning corporation is taxable in the commonwealth.