Bill > H2524

This bill amends Section 6 subsection (b) of Chapter 62C of the Massachusetts general laws regarding the state tax return filings for annuities. The key provisions are: 1) Executors, administrators, trustees, and other fiduciaries must file an annual tax return for any taxable income over $200 received by the individual or their decedent; 2) If a person is appointed as an executor or administrator after January 1st of a year, they must file a return for the decedent's income not reported by the decedent within 4 months of their appointment; 3) Fiduciaries must file a return immediately prior to making a final distribution of an estate or trust, and the taxes become due and payable upon filing.

Budget and Finance

https://malegislature.gov/Bills/191/H2524