An Act to level the playing field for Massachusetts small and medium sized businesses

This bill amends Massachusetts tax law to require corporations that share more than 50% ownership to file a combined tax report if they operate as part of the same unitary business. The legislation defines a unitary business as a group of companies whose activities are so interconnected that they provide mutual benefit and exchange significant value. By combining their financial records, these related businesses will calculate their state tax liability based on their total income rather than reporting separately. The primary goal is to ensure that large corporate groups with shared ownership are taxed fairly and consistently within the state.