Section 7: Regulation and guidance
105 words·~1 min read·
/ma/part-i/title-ix/chapter-63d/7·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
[Text of section effective for tax years beginning on or after January 1, 2021. See 2021, 69, Sec. 2.]
Section 7. The commissioner shall promulgate regulations or other guidance to carry out the purposes of this chapter. Such regulations or other guidance may:
(i)make the credit available to qualified members with income from eligible pass-through entities that in turn have income from other eligible pass-through entities;
(ii)provide rules on the application of this chapter to eligible trusts and estates; and
(iii)require estimated payments of the excise by electing eligible pass-through entities and their qualified members in a manner consistent with chapter 62B.