reglab/housing_qa huggingface dataset:
MA Gen L ch 63 § 22 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title IX - Taxation|Chapter 63 - Taxation of Corporations|Section 22 - Domestic Companies Other Than Life; Premiums Subject to Taxation; Rate

Section 22. Every domestic insurance company coming within the scope of the definition of a domestic company in section 1 of chapter 175, except life insurance companies with respect to amounts received as consideration for annuity contracts and business taxable under section 20 and marine, or fire and marine, insurance companies with respect to business taxable under section 29A, shall annually pay an excise of 2.28 per cent upon the gross premiums for all policies written or renewed, all additional premiums charged, and all assessments made by such company on policyholders during the preceding calendar year, exclusive of reinsurance; but such premiums and assessments for policies written or renewed for insurance, exclusive of reinsurance, of property or interests in other states or countries where a tax is actually paid by such company, or its agents, shall not be so taxed. For purposes of calculating the credit under section 29E of this chapter, the term ''surtax'' is hereby defined as the portion of the excise imposed under this section equal to 0.28 per cent.
MA Gen L ch 63 § 22a (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title IX - Taxation|Chapter 63 - Taxation of Corporations|Section 22a - Domestic Companies; Annual Total Gross Investment Income Earned Tax

Section 22A. Every domestic insurance company coming within the scope of the definition of a domestic company in section one of chapter one hundred and seventy-five, except life insurance companies as defined in section one hundred and eighteen of said chapter one hundred and seventy-five, which are also life insurance companies as defined under subsection (a) of section 801 of the Federal Internal Revenue Code, as amended, and in effect for the taxable year, shall annually pay, as part of its excise imposed under this chapter, an amount equal to one per cent of its total gross investment income earned during the preceding calendar year, as reported in its annual statement for said year filed with the commissioner of insurance and as shown in Exhibit 3 of said statement for a life insurance company or in Item 10, Column 8, Part 1, of the Underwriting and Investment Exhibit for any other domestic insurance company.
MA Gen L ch 63 § 22c (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title IX - Taxation|Chapter 63 - Taxation of Corporations|Section 22c - Credit Against Investment Privilege Excise

Section 22C. A domestic life insurance company subject to the investment privilege excise imposed by section twenty-two B having admitted assets of two hundred million dollars or less at the close of a taxable year, shall be allowed a credit against such excise in the amount of twenty thousand dollars. Any such company, whose admitted assets at the close of a taxable year are in excess of two hundred million dollars, shall be allowed a credit against such excise in the amount of twenty thousand dollars, reduced pro rata by five hundred dollars for each one million dollars or fraction thereof by which the value of the admitted assets of such company at the close of the taxable year exceeds two hundred million dollars. For the purpose of this section admitted assets shall be valued by the commissioner of corporations and taxation in accordance with standards established with respect to annual statements under chapter one hundred and seventy-five.
MA Gen L ch 63 § 22d (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title IX - Taxation|Chapter 63 - Taxation of Corporations|Section 22d - Gains, Determination for Investment Privilege Excise Purposes; Definitions

Section 22D. For the purposes of determining the amount of gains, but not losses, under the investment privilege excise imposed by section twenty-two B, a qualifying domestic life insurance company, as hereinafter defined, subject to said excise and having admitted assets of less than one billion dollars, at the close of the taxable year, as valued by the commissioner of corporations and taxation in accordance with standards established with respect to annual statements under chapter one hundred and seventy-five, may elect to adjust the basis, as defined in section 1011 of the Federal Internal Revenue Code, of all merger assets, to equal their market value on the qualifying date. Said election shall be irrevocable and made on or before the date for filing, including any extension thereof, the return of the qualifying domestic company for the taxable year ending December thirty-first, nineteen hundred and seventy-seven.  For purposes of this section, a ''qualifying domestic life insurance company'' is a company which, after December thirty-first, nineteen hundred and fifty-eight and before December thirty-first, nineteen hundred and seventy-six, was a party to a reorganization, as defined in section 368 of the Federal Internal Revenue Code and in effect for the taxable year of the reorganization, with another domestic insurance company which was not a life insurance company, as defined by subsection (a) of section 801 of the Federal Internal Revenue Code in effect for the taxable year of the reorganization.  For purposes of this section, ''merger assets'' shall mean stock, other than stock in a party to the reorganization, acquired in the reorganization by the qualifying domestic life insurance company and ''qualifying date'' shall mean the date of the reorganization.
MA Gen L ch 63 § 23 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title IX - Taxation|Chapter 63 - Taxation of Corporations|Section 23 - Foreign Companies; Premiums Subject to Taxation; Rate

Section 23. Every foreign insurance company coming within the scope of the definition of a foreign company in section 1 of chapter 175, except life insurance companies with respect to business taxable under sections 20 and 21 and marine, or fire and marine, insurance companies with respect to business taxable under section 29A, shall annually pay an excise upon the gross premiums for all policies written or renewed, all additional premiums charged, and all assessments made during the preceding calendar year for insurance of property or interests in this commonwealth, or which are subjects of insurance by contracts issued through companies or agents therein, exclusive of reinsurance, at the rate of 2.28 per cent but not less in amount than would be imposed by the laws of the state or country under which such company is organized upon a like insurance company incorporated in this commonwealth, or upon its agents, if doing business to the same extent in such state or country.
MA Gen L ch 63 § 24 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title IX - Taxation|Chapter 63 - Taxation of Corporations|Section 24 - Deductions

Section 24. In determining the amount of the tax payable under sections twenty-two and twenty-three, there shall be deducted all premiums on policies written but not taken, or cancelled through default of payment, and all premiums returned or credited to policyholders during the year for which the tax is determined, but not including premiums returned or credited on reinsurance assumed, provided that all premiums for which deduction is claimed have been included as premium receipts in a return made under section twelve of chapter sixty-two C and a tax assessed thereon.
MA Gen L ch 63 § 24a (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title IX - Taxation|Chapter 63 - Taxation of Corporations|Section 24a - Retaliatory Taxes; Applicability and Reciprocal Exemption; Definition

Section 24A. Section twenty-one and the provision of section twenty-three imposing an excise in excess of two per cent of premiums taxable thereunder shall not apply to insurance companies organized in a state or country the laws of which do not impose retaliatory taxes or which grant, on a reciprocal basis, exemption from such retaliatory taxes to insurance companies organized in this commonwealth, or its agents. As used herein, ''retaliatory taxes'' means those taxes imposed upon insurance companies organized in another state or country which result from the fact that an insurance company organized in the taxing jurisdiction and doing business in such other state or country is taxable in an amount exceeding that imposed by the taxing jurisdiction upon an insurance company organized in such other state or country and doing business to the same extent in the taxing jurisdiction.
MA Gen L ch 63 § 26 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title IX - Taxation|Chapter 63 - Taxation of Corporations|Section 26 - Examination of Records

Section 26. The books, papers and accounts of every insurance company and of its agents shall be opened at all times to inspection and examination by the commissioner and the commissioner of insurance, or their duly authorized representatives, for the purpose of verifying the accuracy of the returns made under section twelve of chapter sixty-two C.
MA Gen L ch 63 § 28 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title IX - Taxation|Chapter 63 - Taxation of Corporations|Section 28 - Payment; Time; Basis for Liability

Section 28. Every insurance company liable to taxation under sections twenty to twenty-three, inclusive, and twenty-nine A shall pay to the commissioner at the time fixed for filing its return under the applicable section of chapter sixty-two C the amount of the excise thereby imposed.  Liability for the taxes imposed by sections twenty to twenty-three, inclusive, and twenty-nine A, or by sections two and three of chapter five hundred and thirty-one of the acts of nineteen hundred and forty-three shall be incurred by reason of the transaction of business at any time within the calendar year preceding that in which the return is required to be filed.
MA Gen L ch 63 § 29 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title IX - Taxation|Chapter 63 - Taxation of Corporations|Section 29 - Liability for Taxes

Section 29. Every domestic or foreign insurance company shall be liable for the full amount of all taxes assessed under this chapter upon it or its agents.
MA Gen L ch 63 § 29b (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title IX - Taxation|Chapter 63 - Taxation of Corporations|Section 29b - Taxation of Reciprocal or Inter-Insurance Exchange Agents

Section 29B. Every attorney in fact of a reciprocal or inter-insurance exchange defined in section ninety-four A of chapter one hundred and seventy-five and authorized to transact business in the commonwealth under the provisions of sections ninety-four A to ninety-four M, inclusive, of said chapter, shall be subject to the provisions of sections twenty-two to twenty-nine, inclusive, and section twelve of chapter sixty-two C unless said provisions and their context clearly show that said provisions were not intended to apply to the plan and method of exchanging reciprocal or inter-insurance contracts; provided, that the word ''premiums'' in section twenty-two and section twenty-three shall, with respect to reciprocal or inter-insurance exchanges, mean ''premium deposits''; and provided, further, that in section twenty-four, the word ''premiums'', shall be construed to mean, when applied to reciprocal or inter-insurance exchanges, premium deposits credited or returned to subscribers.
MA Gen L ch 63 § 29c (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title IX - Taxation|Chapter 63 - Taxation of Corporations|Section 29c - Life Insurance Companies; Credits Against Taxes Imposed by Secs. 20 and 22

[Text applicable as provided by 1998, 259, Sec. 10.]  Section 29C. A life insurance company subject to the excise imposed by either sections 20 or 22 shall be allowed a credit against either such excise equal to 1.5 per cent of such company's total capital contribution in excess of their full proportionate share which shall mean an investment in the Massachusetts life insurance company community investment initiative equal to at least the product of the following:-  (1) $20,000,000;  (2) multiplied by a fraction, the numerator of which shall be the life insurance company's total net investment income tax due and payable under section 22B of chapter 63 for the tax year ending on or before December 31, 1997 and the denominator of which shall be the total net investment tax due and payable under said section 22B for all life insurance companies doing business in the commonwealth for the tax year ending on or before December 31, 1997. For a company that was not subject to said section 22B in the tax year ending on or before December 31, 1997, the numerator shall be the life insurance company's total net investment income tax due and payable under said section 22B for the taxable year two years prior to the current taxable year. The department of revenue shall determine each company's full proportionate share and shall provide such information to said company within 30 days of receipt of a request by said company, for the existence of such initiative, provided, however, in the taxable year beginning on or after the fifth year, the amount of said credit shall be equal to 1.5 per cent of such company's total capital contribution.
MA Gen L ch 63 § 29d (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title IX - Taxation|Chapter 63 - Taxation of Corporations|Section 29d - Property and Casualty Insurance Companies; Taxes on Premiums; Credits Against Taxes Imposed by Secs. 22 and 23

[Text applicable as provided by 1998, 259, Sec. 10.]  Section 29D. A property and casualty insurance company subject to the excise upon premiums imposed by either sections 22 or 23 shall be allowed a credit against either such excise equal to 1.5 per cent of such company's total capital contribution in excess of their full proportionate share which shall mean an investment in the Massachusetts property and casualty insurance company community and economic development initiative equal to at least the product of the following:  (1) $20,000,000;  (2) multiplied by a fraction, the numerator of which shall be the property and casualty insurance company's total gross investment tax under section 22A of chapter 63 for the tax year ending on or before December 31, 1997 and the denominator of which shall be the total gross investment tax under said section 22A for all property and casualty insurance companies doing business in the commonwealth for the tax year ending on or before December 31, 1997. For a company that was not subject to said section 22A in the tax year ending on or before December 31, 1997, the numerator shall be the P&C insurance company's total net investment income tax due and payable under said section 22A for the taxable year two years prior to the current taxable year. The department of revenue shall determine said company's full proportionate share and shall provide such information to said company within 30 days of receipt of a request by said company, for the existence of such initiative, provided, however, in the taxable year beginning on or after the fifth year, the amount of said credit shall be equal to 1.5 per cent of such company's total capital contribution.
MA Gen L ch 63 § 31d (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title IX - Taxation|Chapter 63 - Taxation of Corporations|Section 31d - Definitions Applicable to Secs. 31d to 31f

Section 31D. As used in sections thirty-one D to thirty-one F, inclusive, the following words shall, unless the context requires otherwise, have the following meanings:—  ''Commuting student'', a full-time student at a college, university or other postsecondary educational institution, who travels between his residence and an educational institution on a regular basis.  ''Company shuttle van'', a highway vehicle which meets all of the following criteria:  (1) has a seating capacity of at least seven adults, including the driver;  (2) at least eighty per cent of the mileage of which reasonably can be expected to be for the purpose of transporting taxpayer's employees between their residence, or public transportation facilities that interface with such routes and their place of employment within the commonwealth, provided, however, that the number of employees transported on such trips is at least one half of the adult seating capacity of such vehicle, not including the driver.  ''Employee'', either of the following:  (1) an individual who performs service for an employer for more than eight hours per week for remuneration, or  (2) any commuting student.  ''Employer'', a taxpayer who is either of the following:  (1) a person for whom services are performed by employees, except government agencies, or  (2) a private educational institution which enrolls students at higher than the secondary level.  ''Employer sponsored ride sharing incentive program'', a program undertaken by an employer either alone or in cooperation with other employers to encourage or provide fiscal or other incentives to employees to make the home to work commute trip by any mode other than the single occupant motor vehicle.  ''Ride sharing'', travel by any mode other than the single occupant motor vehicle including, but not limited to, carpooling, vanpooling, public or private buspooling, subscription taxipooling, and public transit, either in highway traffic or on ways or lanes designated for the exclusive use of carpools, vanpools, public or private buspools, subscription taxipools and public transit.  ''Third-party vanpool'', a vanpool that is not administered and operated by an employer or his employees, but is administered and operated by an outside organization, including a government agency, which makes vehicles and other equipment and services available for use by employers and their employees.  ''Vanpool'', seven or more persons commuting on a daily basis to and from work by means of a vehicle with a seating arrangement designed to carry seven to fifteen adults, including the driver.
MA Gen L ch 63 § 31f (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title IX - Taxation|Chapter 63 - Taxation of Corporations|Section 31f - Vanpool Vehicle Registration; Fee

Section 31F. (a) Upon registration of a vanpool vehicle, registration plates for each vehicle shall be provided which include the word VANPOOL on the face thereof.  (b) There shall be no vehicle registration fee required for vanpool vehicle owners who are able to establish the following:  (1) the vanpool vehicle will be used principally for the purpose of carrying employees between their residences and their places of employment or nearby public transportation facilities.  (2) there is a signed list of seven persons, including the driver of the vanpool vehicle, who have agreed to participate in the vanpool for at least eleven of the twelve months subsequent to the registration of the vehicle.  (3) such vehicle is covered by a policy of insurance which shall indemnify the insured against any liability for personal injury, the death of any person or property damage, which injury, death or damage may result from or have been caused by the use or operation of the vanpool vehicle described in the contract of insurance. The amount of such insurance or indemnity against claims for personal injury or death shall be not less than one million dollars. Any person or company issuing any such insurance or indemnity bond shall file a certificate with the registrar of motor vehicles in such form as may be prescribed by said registrar. No such insurance or bond shall be subject to nonrenewal or cancellation while the registration is in force unless said registrar has been given at least twenty days' written notice prior to the effective date of nonrenewal or cancellation. If within such twenty day period said registrar is not presented with satisfactory evidence that other insurance or another indemnity bond has been obtained the registration shall be revoked. Liability under such insurance policy or bond shall continue beyond such twenty day notification period until such time as the registration for such vanpool vehicle has been surrendered and its plates have been returned to said registrar, but in no case shall such liability continue for more than ten days after such notification period has expired.  (c) If the vanpool owner is unable to establish the conditions of paragraph (b), the vehicle registration fee for each vanpool vehicle shall in no instance exceed the fee which would be required to be paid for such vehicle if it were not used for the purpose of vanpooling.
MA Gen L ch 63 § 31j (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title IX - Taxation|Chapter 63 - Taxation of Corporations|Section 31j - Deductible Interest; Interest Paid to Related Member; Taxpayer's Burden to Show Disallowance of Deduction Unreasonable

Section 31J. (a) For purposes of computing its net income under this chapter, a taxpayer shall add back otherwise deductible interest paid, accrued or incurred to a related member, as defined in section 31I, during the taxable year, except that a deduction shall be permitted when either: (1) the taxpayer establishes by clear and convincing evidence, as determined by the commissioner, that the disallowance of the deduction is unreasonable, or (2) the taxpayer and the commissioner agree in writing to the application of an alternative method of apportionment under section 42. Nothing in this subsection shall be construed to limit or negate the commissioner's authority to otherwise enter into agreements and compromises otherwise allowed by law.  (b) The adjustments required in subsection (a) shall not apply if the taxpayer establishes by clear and convincing evidence, as determined by the commissioner, that: (i) a principal purpose of the transaction giving rise to the payment of interest was not to avoid payment of taxes due under this chapter; (ii) the interest is paid pursuant to a contract that reflects an arm's length rate of interest and terms; and (iii) (A) the related member was subject to tax on its net income in this state or another state or possession of the United States or a foreign nation; (B) a measure of said tax included the interest received from the taxpayer; and (C) the rate of tax applied to the interest received by the related member is no less than the statutory rate of tax applied to the taxpayer under this chapter minus 3 percentage points.  (c) For purposes of subsection (a), interest payments by the taxpayer to a person or entity that is not a related member will be treated as if made to a related member if the interest is paid in connection with a debt incurred to acquire the taxpayer's assets or stock in a transaction that is referenced in section 368 of Internal Revenue Code, as amended and in effect for the taxable year. For purposes of this subsection, subsection (b) shall not apply.  (d) Nothing in this section shall be construed to limit or negate the commissioner's authority to make adjustments under sections 33 and 39A.