ma income tax rate

This calculator estimates the average tax rate as the federal income tax liability divided by the total gross income. Some calculators may use taxable income when calculating the average tax rate. As with state taxes on business income, the specifics of a state’s franchise tax often depend in part on the legal form of the business. Franchise taxes are generally either a flat fee or an amount based on a business’s net worth.

  • A city or town may also charge a local sales tax on the sales of restaurant meals.
  • If an extension payment is required to reach the 80% threshold, you canpay electronically.
  • We expect the Department to issue regulations and guidance on the administration of the PTE in the coming weeks.
  • Description of benefits and details at
  • View more detailed information on filing statusto see what this means for you.
  • If you did not have any state tax withheld, and you made less than $8,000 in MA, then you don’t need to file.

SmartAsset Advisors, LLC (“SmartAsset”), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. Securities and Exchange Commission as an investment adviser. SmartAsset does not review the ongoing performance of any RIA/IAR, participate in the management of any user’s account by an RIA/IAR or provide advice regarding specific investments. – We regularly check for any updates to the latest tax rates and regulations.

Damaged/Stolen Equipment Reporting

For example, certain short-term capital gains are taxed at 12%. Unlike with the federal income tax, there are no tax brackets in Massachusetts. State residents who would like to contribute more to the state’s coffers also have the option to pay a higher income tax rate.

Is Massachusetts a rich or poor state?


Massachusetts, known for having high-quality education and high-paying jobs, is the third-richest state in terms of median income. Massachusett's median income is $85,843.

Federal pricing will vary based upon individual taxpayer circumstances and is finalized at the time of filing. Go through your life events checklist and see how each can affect your tax return with the experts at H&R Block. From retirement account contributions to self-employment expenses, learn more about the five most common tax deductions with the experts at H&R Block. A financial advisor in Massachusetts can help you understand how taxes fit into your overall financial goals. Financial advisors can also help with investing and financial plans, including retirement, homeownership, insurance and more, to make sure you are preparing for the future. View how much tax you may pay in other states based on the filing status and state entered above. Massachusetts allows for other miscellaneous deductions, such as jury duty pay surrendered to your employer, some attorney fees and court costs for unlawful discrimination and other expenses.

Inheritance and Estate Tax and Inheritance and Estate Tax Exemption

One thing that doesn’t change, no matter where you live in the country, is FICA tax withholding. That’s the 6.2% for Social Security taxes and 1.45% for Medicare taxes that your employer withholds from every paycheck. Any earnings you make above $200,000 are subject to a 0.9% Medicare surtax, which is not matched by your employer.

  • Other charges, such as filing fees or minimum taxes, may apply.
  • The student will be required to return all course materials.
  • Oregon edged out Massachusetts at 23.37% to take the top spot.
  • You are a Non-resident if you do not fit the above description.
  • There are limits on the total amount you can transfer and how often you can request transfers.

In addition, S corporations, like traditional corporations, are required to pay a minimum excise tax of $456. In these uncertain times, we have watched the states issue guidance and relief provisions for companies with employees telecommuting.


The revised form no longer asks you to list total allowances. Instead, it features a five-step process that lets you enter personal information, claim dependents and indicate any additional income or jobs. These revisions primarily affect those adjusting their withholdings or changing jobs.

  • On or before the 15th day of the third month after close of taxable year.
  • One thing that doesn’t change, no matter where you live in the country, is FICA tax withholding.
  • The Bay State is often called “Taxachusetts” – and there are some good reasons why it got that nickname.
  • Faster access to funds is based on comparison of traditional banking policies for check deposits versus electronic direct deposit.
  • The Commonwealth of Massachusetts allows for a tax deduction for Social Security and Medicare taxes up to $2,000.
  • In addition to income tax, the state of Massachusetts requires that residents submit proof of health insurance coverage with their state tax forms.
  • Estates valued at more than $1 million may be subject to a Massachusetts estate tax.

This guide has general information about Personal Income tax for Massachusetts residents. It is not designed to address all questions which may arise nor to address complex issues in detail. Nothing contained ma income tax herein supersedes, alters or otherwise changes any provision of the Massachusetts General Laws, Massachusetts Department of Revenue Regulations, Department rulings or any other sources of the law.

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