An Act relative to Reducing the State Personal Income Tax Rate from 5% To 4%
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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 proposes to lower the state’s personal income tax rate from 5% to 4%. It aims to provide tax relief to Massachusetts residents by reducing the amount of income tax paid. The bill’s passage would require a change to the state’s tax structure. It is currently being reviewed by the Special Joint Committee on Initiative Petitions.
Key provisions
- Reduces the state personal income tax rate from 5% to 4%.
- Applies to taxable income of Massachusetts residents.
- Requires consideration by the Joint Committee on Taxation.
- Currently under review by the Special Joint Committee on Initiative Petitions.
Who is affected
- Massachusetts residents
- Taxpayers
Notable changes
- This bill would represent a permanent reduction in the state’s personal income tax rate.
Bill text
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