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Budget Summary FY2015

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Outside Section 104
Data Current as of:  10/17/2014

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Corporate returns combined filing II

SECTION 104.   Section 37 of said chapter 62C, as so appearing, is hereby amended by adding the following paragraph:-

In the case of a combined report filed pursuant to section 32B of chapter 63, the principal reporting corporation may act under this section as the agent for any and all corporations that participated in or were required to participate in such filing. In the case of such combined report, the commissioner may offset against an abatement with respect to such corporation, as determined by the commissioner under this section, additional excise that is due or determined to be due under said chapter 63 from any corporation that participated in or was required to participate in the combined report filing, whether that additional excise due may result from the application of the income or non-income measures of the corporate excise or to the minimum excise tax and whether or not the additional tax is based on issues related to the abatement. Offsets based on issues unrelated to the abatement may reduce or eliminate such abatement, but in no case shall such offset give rise to a net amount of tax due where an assessment would otherwise be barred as untimely.