Mass. Gen. Laws » Part I Title IX Chapter 63
Massachusetts General Laws

Mass. Gen. Laws ch. 63, § 38G (2026)

Reporting wholly-owned DISC income

✓ current as of July 2026
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Section 38G. A business corporation subject to tax under this chapter shall for the purposes of determining its excise under the provisions of this chapter include in the report of its income all the income of any wholly-owned DISC, whether such DISC is organized under the laws of the commonwealth or the laws of any other state, for the taxable year of such wholly-owned DISC which ends immediately after the taxable year of such corporation and shall include in its assets and liabilities all of the assets and liabilities of any such wholly-owned DISC as of the end of the taxable year of such wholly-owned DISC which ends immediately after the taxable year of such corporation.

Every business corporation subject to tax under this chapter which has such a wholly-owned DISC shall include in its return: (1) a copy of the federal income tax return filed by such DISC for the taxable year which ends immediately after the taxable year of such corporation and (2) a statement that the income, assets and liabilities reported by such corporation for the taxable year and upon which its excise under this chapter has been determined includes the income, assets and liabilities of such DISC for the taxable year of the DISC which ends immediately after the taxable year of such corporation.

Notes of Decisions
Cited in 2 cases, 1981–1984 · leading case: Polaroid Corp. v. Comm'r of Revenue, 472 N.E.2d 259 (Mass. 1984).
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Polaroid Corp. v. Comm'r of Revenue, 472 N.E.2d 259 (Mass. 1984). · cites it 2× “Polaroid also owns all the stock of Polaroid World Trade Corporation, a domestic international sales corporation as defined in § 992 of the Internal Revenue Code, whose income, assets, and liabilities are treated under G. L. c. 63, § 38G, as those of Polaroid for the purpose of…”
Se. Sand & Gravel, Inc. v. Comm'r of Revenue, 429 N.E.2d 714 (Mass. 1981). “Assessors of Boston, 324 Mass. 32, 36-37 (1949), the taxpayer has not demonstrated that the board was wrong as matter of law in deciding that it was not engaged in manufacturing.”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.