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Chapter 61 is a voluntary current use program designed by the Massachusetts Legislature to tax real property in the Commonwealth of Massachusetts at its resources value rather than its highest and best use (development) value. Landowners who enroll their land in the program receive property tax reductions in exchange for a lien on their property.
A measure titled "Income Tax for Education and Transportation Amendment", which sought to create a four percent tax on incomes that exceed $1 million, to be used for education and transportation purposes, was removed after the Massachusetts Supreme Judicial Court ruled in June 2018 that the measure had been incorrectly certified by the ...
Arguments that were presented in support of Question 1. Total state government spending is in excess of $47.3 billion. Total state revenues are in excess of $47.3 billion. The income tax is less than 27% of the state government's revenue. Municipal (city and town) government spending is more than $22 billion on top of state government spending ...
Taxing millionaires is a contentious issue—but Massachusetts is declaring early victory, with an announcement this week that the state’s tax on its highest earners has yielded $1.8 billion in ...
The IRS said Friday that more than 140,000 taxpayers filed their taxes through its new direct file pilot program and participants saved roughly $5.6 million in fees they would have otherwise spent ...
Daniel Acker. The IRS's new, free filing software for relatively simple tax returns is now available in 12 states. The Direct File service, which is being piloted for the first time for 2023 tax ...
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