MASSACHUSETTS DEPARTMENT OF REVENUE REGULATION FACT SHEET

TITLE:  830 CMR 62.17A.2: Restatement of Massachusetts Taxation of S Corporations and Their Shareholders

REGULATORY HISTORY:  Regulation promulgated 11/22/13. 

SUMMARY OF REGULATION:
This regulation sets forth the rules that apply to S corporations under the personal income tax provisions of M.G.L. c. 62, and those that apply under the corporate excise provisions of M.G.L. c. 63.  It includes Massachusetts law based upon statutory changes and changes in other legal authority since the effective date of the predecessor regulation, 830 CMR 62.17A.1, which was promulgated July 6, 1990. This regulation, 830 CMR 62.17A.2, has been issued pursuant to the commissioner's authority under M.G.L. c. 63, § 38(j).

SMALL BUSINESS IMPACT REVIEW REQUIRED BY St. 2010, c. 240, § 167:
The regulation has been reviewed for its economic impact on small businesses as required by St. 2010, c. 240, § 167.  The following criteria have been considered:  (1) the continuing need for this regulation; (2) the nature of complaints and comments about this regulation received by the Department from the public; (3) the complexity of the regulation; (4) the extent to which this regulation overlaps, duplicates, or conflicts with other federal, state and local government regulations; (5) the length of time since the regulation was enacted and/or amended; and (6) the degree to which technology, economic conditions or other factors have changed the subject areas affected by this regulation.  As a result of this review, DOR recommended that the regulation, as revised, remain in effect.

DATE: 11/22/13

PREPARED BY:
Massachusetts Department of Revenue
Rulings and Regulations Bureau
100 Cambridge Street, 7th floor
Boston, Massachusetts  02114
(617) 626-3250
FAX:  (617) 626-3290