Massachusetts H3121 imposes an excise tax on large investors owning more than a certain number of small properties.

Massachusetts H3121 introduces an excise tax on large investors owning more than a specified number of small properties. The bill defines "large investor" as any applicable taxpayer with $10 million or more in net value or assets under management. "Small property" refers to a residential property with 1 to 4 dwelling units, excluding certain properties. The tax applies to applicable taxpayers owning more than the maximum permissible small properties, with the tax amount based on the excess number of properties.

Massachusetts H3121 imposes an excise tax on large investors owning more than a certain number of small properties.

Massachusetts H3121 introduces an excise tax on large investors owning more than a specified number of small properties. The bill defines "large investor" as any applicable taxpayer with $10 million or more in net value or assets under management. "Small property" refers to a residential property with 1 to 4 dwelling units, excluding certain properties. The tax applies to applicable taxpayers owning more than the maximum permissible small properties, with the tax amount based on the excess number of properties.