On July 24 of this year, the Massachusetts legislature passed a new “Tech Tax,” seeking to raise tax revenue from a broad range of software related services. The tax was controversial, and many in the business community complained that it was vague, confusing and likely to hamper Massachusetts’ innovation economy. Those complaints were heard, and on Friday, September 27, 2013, Governor Deval Patrick signed a law repealing the tax.
Gesmer Updegrove’s Jeff Groshek has prepared a Client Advisory that discusses the repeal, and addresses its impact on those businesses that have already collected the tax or remitted it to the Department of Revenue, as well as those that have not. The Advisory is posted on our website and can be downloaded as a PDF here.