Section 42A. The taxable net income of a business corporation allocated or apportioned to this commonwealth under section 38 shall be its net income subject to the tax under this chapter.

Terms Used In Massachusetts General Laws ch. 63 sec. 42A

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
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