- The creation of a new 3% state capital gains tax rate on investments in Massachusetts-based startups held for at least three years – encouraging in-state startup activity and investment, promoting patient capital among investors, and spurring innovation and product commercialization.
- A change in the state’s net operating loss carry-forward period (currently among the most restrictive in the country) from 5 to 20 years – making the state more competitive for startups, innovation-based sectors, and cyclical industries such as manufacturing, construction, high technology and life sciences.
Thursday, July 8, 2010
The Chamber applauds the decisive step taken last night by the House to improve Massachusetts’ competitive position. Massachusetts’ fledgling economic recovery needs a shot in the arm. This economic development bill will mean more jobs, investment, and innovation. Its enactment will spur immediate economic development and business activity in the Commonwealth. Of particular importance are two provisions that were first proposed as part of the Chamber’s 2010 Renew Mass economic recovery platform:
Posted by Michelle Frappolli at 10:58 AM