Learn More About The Massachusetts State Tax Rate

ma state income tax rate 2022

For comparison purposes, however, your Massachusetts tax bracket is the tax bracket in which your last earned dollar in any given tax period falls. If you make $55,000 a year living in the region of Massachusetts, USA, you will be taxed $11,915. That means that your net pay will be $43,085 per year, or $3,590 per month.

ma state income tax rate 2022

You must claim your refund or credit within a certain time period, as further detailed below. Also, the Department of Revenue must issue refunds within a certain time period or pay interest on the amount of the refund. This page contains important information on the time limitations for claiming a refund and on the calculation of interest. If you’re a full-year resident with an annual Massachusetts gross income of more than $8,000, you must file a Massachusetts massachusetts state income tax tax return. The Personal Exemption, which is supported by the Massachusetts income tax, is an additional deduction you can take if you are primarily responsible for your own living expenses. Likewise, you can take an additional dependent exemption for each qualifying dependent , who you financially support. On Election Day, it became clear that taxpayers saw both sides of the argument, with the vote remaining too close to call until later the following day.

Total Estimated 2022 Tax Burden

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. If your principal residence is in Massachusetts and you paid rent to a landlord in the past year, you can deduct 50% of the rent paid, up to $3,000 (up to $1,500 for married filing separate filers). For Tax Year 2022, MA has a flat tax income rate of 5%.

  • Meanwhile, the state inheritance tax only applies to the estates of people who died on or before Dec. 31, 1975.
  • “But in this instance, accelerating income may give you an immediate 4% at the state level.
  • Updated June 2022These free resources should not be taken as tax or legal advice.
  • For tax years beginning after 2017, applicants claimed as dependents must also prove U.S. residency unless the applicant is a dependent of U.S. military personnel stationed overseas.
  • The budget also allows a state tax deduction for income realized from the discharge of eligible student loans.

Some states have agreements that allow workers to only file taxes where they live, regardless of where they work. Check with a tax professional to learn how state laws may apply to your situation. Applies to business organizations organized as limited liability companies, limited liability partnerships, limited partnerships, and S corporations (i.e., pass-through entities). Other charges, such as filing fees or minimum taxes, may apply. Keep in mind that this estimator assumes all income is from wages, assumes the standard deduction, and does not account for tax credits. In the event mail service is delayed, taxpayers can ensure that returns, payments and refunds are received if they elect to submit them or receive them by electronic means.

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The rates presented are current for the date and time you submitted the address, but may change at any time with new tax legislation. US Mastercard Zero Liability does not apply to commercial accounts .

  • Head over to the Federal income tax brackets page to learn about the Federal Income Tax, which applies in all states nationwide.
  • Working with an adviser may come with potential downsides such as payment of fees .
  • Available only at participating H&R Block offices.
  • Enrollment in, or completion of, the H&R Block Income Tax Course or Tax Knowledge Assessment is neither an offer nor a guarantee of employment.
  • States are expected to fix this significant tax disparity but must act quickly because many state legislatures have adjourned for the year.
  • For all of the tax forms we provide, visit our Massachusetts tax forms library or the ‘s tax forms page.

That said, changing one’s domicile is not as simple as obtaining a new driver’s license. Changing one’s domicile is possible, but taxpayers should understand that they bear the burden of proving they have changed their domicile and that they would be well advised to consult with an attorney before making the move. Some executives who move their businesses out of state can maintain their workforce remotely or take advantage of more favorable wage scales in states that have lower taxes and a lower cost of living than Massachusetts. Massachusetts is considering multiple taxes on digital advertising services. Currently pending is a proposal whereby taxpayers with at least $50 million in annual gross revenues and $100,000 in revenues derived from Massachusetts digital advertising services would be subject to a tax on such services . Further, taxpayers with revenue from digital advertising services greater than $25M would be subject to a five percent excise tax.


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