The bill titled "An Act relative to Chapter 63D taxation for small businesses" proposes an amendment to Section 2 of Chapter 63D of the General Laws of Massachusetts. The key insertion in this amendment allows for payments made under this chapter during the tax year beginning January 1, 2025, and ending December 31, 2025, to be treated as Massachusetts income tax withholdings on behalf of business owners.

This change aims to provide small business owners with a potential tax benefit by recognizing their payments as withholdings, which could alleviate some of their tax burdens for that specific year. The bill is presented by Paul K. Frost and is intended to support small businesses in Massachusetts by adjusting the tax treatment of their payments under Chapter 63D.

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