Massachusetts General Laws Part I. Administration of the Government (Ch. 1-182) Ch. 63, § 68C
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In general, a business corporation as defined in section 30 is subject to an excise under section 39, as provided in that section, and as modified by section 32D in the case of S corporations and by section 38Y in the case of entities qualifying under section 501 of the Code. Notwithstanding this general rule or any other provision of this chapter, the excise under section 39 shall not apply in the case of a business corporation that is:--
(2) a security corporation as defined in section 38B and subject to excise under that section;
(5) an urban redevelopment corporation subject to excise under section 10 of chapter 121A;
(7) a corporation described in section 1 of chapter 171;
(8) a corporation or other entity that qualifies as a regulated investment company under section 851 of the Code; or
(9) an unincorporated entity within the definition of, and electing to be treated as, a homeowners' association under section 528(c) of the Code and subject to tax for the taxable year as provided in section 5C of chapter 62; or
(10) a business corporation otherwise expressly exempted from the excise under this chapter by any other general law.
Cite this article: FindLaw.com - Massachusetts General Laws Part I. Administration of the Government (Ch. 1-182) Ch. 63, § 68C - last updated January 01, 2020 | https://codes.findlaw.com/ma/part-i-administration-of-the-government-ch-1-182/ma-gen-laws-ch-63-sect-68c.html
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