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Budget Summary FY2015

Outside Section 99
Data Current as of:  7/10/2014




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Corporate returns filing requirements II

SECTION 99.   Section 12 of said chapter 62C, as most recently amended by section 33 of chapter 46 of the acts of 2013, is hereby further amended by adding the following subsection:-

(k) The filing of a combined report pursuant to section 32B of chapter 63 in the manner prescribed by the commissioner shall satisfy the filing requirements under subsection (a) for any financial institution that, pursuant to such combined report, calculates and reports its own individual corporate excise liability based on the income measure or minimum excise tax, as applicable, under section 2 or 2B of said chapter 63. A combined report shall not constitute a filing under subsection (a) for any financial institution that does not so calculate and report its own individual corporate excise liability under said section 2 or 2B of said chapter 63, whether or not such financial institution's income, sales or other attributes may be taken into account in the calculation of the excise under this chapter of an affiliated corporation that does calculate and report an individual corporate excise pursuant to such combined report.