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Implications of Federal Tax Reform on Massachusetts Taxes

Department of Revenue (DOR) response to the federal Tax Cuts and Jobs Act
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Overview

The Tax Cuts and Jobs Act (“TCJA”) was signed into law in December, 2017 and has implications for Massachusetts taxes. In response to the TCJA, DOR has issued guidance in several areas as outlined below.  

Treatment of Deemed Repatriated Income

DOR has issued a Technical Information Release (“TIR”) for business corporations on the treatment of deemed repatriated income under Internal Revenue Code section 965 for Massachusetts corporate excise purposes. Learn more.

Estimated Tax Penalty Relief for Corps Affected by the Transition Tax on Deferred Foreign Earnings

This TIR covers estimated tax penalty relief with respect to Massachusetts corporation excise liability attributable to Code section 965. Learn more.

Manufacturing Corporations Regulation

DOR has issued a final regulation, 830 CMR 58.2.1: Manufacturing Corporations, clarifying the impact of deemed repatriated income and GILTI on a corporation’s manufacturing classification.

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