Related to:

830 CMR 63B.2.2: Reg Fact Sheet

Date: 12/21/2001
Organization: Massachusetts Department of Revenue
Regulatory Authority: Massachusetts General Laws
Official Version: Published by the Massachusetts Register

MASSACHUSETTS DEPARTMENT OF REVENUE REGULATION FACT SHEET


TITLE: 830 CMR 63B.2.2: Payments of Estimated Corporate Excise for Taxable Years Ending on or after December 31, 1989

SUMMARY OF REGULATION

This regulation explains the procedures and requirements for corporations to make payments of estimated tax, under M.G.L. c. 63B. Section(8) provides that if a taxpayer is required under M.G.L. c. 63B, s. 2, and the regulation to make estimated tax payments of its required annual payment and fails to make the payments, the Commissioner will impose an addition to tax upon the amount of the underpayment. The regulation also explains the circumstances when the Commissioner will not impose addition to tax.

SUMMARY OF DECEMBER 21, 2001 AMENDMENT

Most significantly, this amendment expanded the safe harbor provisions of the regulation to include situations in which a taxpayer's tax liability post-abatement is less than the tax liability originally shown on the return.

REGULATORY HISTORY

Emergency Regulation Promulgated 8/4/89 and 11/3/89, Promulgated 2/2/90,
Amended 12/27/96 to 830 CMR 63B.2.2 (1)(b) and (8)(a).
Amendment 12/21/01 added a new definition, "Tax Shown on The Return", in 830 CMR 63B.2.2(2), and 830 CMR 63B.2.2(8)(b)1, (8)(b)2.a and 830 CMR 63B.2.2(8)(b)3 were repealed and replaced - see above.

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
December 21, 2001

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