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Regulation

Regulation  830 CMR 62.63.1: Reg Fact Sheet

Date: 07/14/2006
Organization: Massachusetts Department of Revenue
Regulatory Authority: Massachusetts General Laws
Official Version: Published by the Massachusetts Register

MASSACHUSETTS DEPARTMENT OF REVENUE REGULATION FACT SHEET

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SUMMARY OF REGULATION:

This regulation repeals and replaces the outdated Accounting Methods Regulation, promulgated in 1958, and explains recent statutory changes to the Massachusetts installment sale election provision under G.L. c. 62, § 63. The statutory changes, effective for tax years beginning on or after January 1, 2005, allow taxpayers who are treated as electing installment sale treatment federally to automatically qualify for Massachusetts's installment sale treatment if the Massachusetts gain for the entire transaction is less than $1 million.

MASSACHUSETTS DEPARTMENT OF REVENUE REGULATION FACT SHEET TITLE: 830 CMR 62.63.1: Installment Transactions REGULATORY HISTORY: Regulation promulgated July 14, 2006 SUMMARY OF REGULATION: This regulation repeals and replaces the outdated Accounting Method

Sections 19, 20 and 72 of chapter 262 of the Acts of 2004 amended G.L. c. 62, § 63.

REGULATORY HISTORY

Regulation promulgated July 14, 2006

PREPARED BY:

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

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