An Act relative to the deduction of health insurance payments from gross income for self employed individuals
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill would allow self-employed individuals in Massachusetts to deduct health insurance payments from their gross income when calculating their taxes. Currently, self-employed individuals cannot deduct these payments. This change would provide a financial benefit to those who pay for their own health insurance coverage.
Key provisions
- Allows self-employed individuals to deduct health insurance payments.
- The deduction would apply to payments made for health insurance coverage.
- The bill aims to align the tax treatment of self-employed individuals with that of employees.
- It would provide a tax benefit to individuals who are responsible for covering the full cost of their health insurance.
Who is affected
- Self-employed individuals
- Small business owners
- Freelancers
- Contractors
- Individuals working independently
Notable changes
- Currently, self-employed individuals cannot deduct health insurance premiums.
- This bill would create a new tax deduction for these payments.
- It would potentially reduce the tax burden for self-employed individuals.
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Cosponsor
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