Massachusetts § 38I Wages deemed compensation paid in commonwealth; deduction; election

Massachusetts Statutes

§ 38I — Wages deemed compensation paid in commonwealth; deduction; election

Massachusetts § 38I

Part IADMINISTRATION OF THE GOVERNMENT

Title IXTAXATION

Ch. 63TAXATION OF CORPORATIONS

This text of Massachusetts § 38I (Wages deemed compensation paid in commonwealth; deduction; election) 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, § 38I (2026).

Text

Section 38I. In determining the net income subject to tax under this chapter for the taxable year, a business corporation may deduct in addition to any other allowable deduction under this chapter, a deduction equal to the credit allowed under section fifty-one of the Federal Internal Revenue Code as amended and in effect for the taxable year, with respect to wages deemed to be compensation paid in the commonwealth within the meaning of subsection (e) of section thirty-eight of this chapter; provided, however, that with regard to compensation qualifying for this deduction and the deduction under section thirty-eight F of this chapter, the corporation may elect either of two deductions but not both. Any such election must be made annually on the return filed and shall be irrevocable.

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Section 38I. In determining the net income subject to tax under this chapter for the taxable year, a business corporation may deduct in addition to any other allowable deduction under this chapter, a deduction equal to the credit allowed under section fifty-one of the Federal Internal Revenue Code as amended and in effect for the taxable year, with respect to wages deemed to be compensation paid in the commonwealth within the meaning of subsection (e) of section thirty-eight of this chapter; provided, however, that with regard to compensation qualifying for this deduction and the deduction under section thirty-eight F of this chapter, the corporation may elect either of two deductions but not both. Any such election must be made annually on the return filed and shall be irrevocable.