Bill > S1635

This bill proposes changes to the Massachusetts estate tax. The key provisions are: 1) For decedents dying after December 31, 2018, an exemption equal to the Massachusetts net estate will be allowed if the Massachusetts net estate is $1.2 million or less. 2) For decedents dying after December 31, 2019, the exemption will be increased based on the percentage that the Consumer Price Index for the preceding calendar year exceeds the 2005 Consumer Price Index, but the exemption cannot exceed the smallest federal taxable estate that absorbs the allowable federal credit. 3) If the Massachusetts net estate exceeds the exemption amount, no exemption shall apply (except for purposes of the final clause of subsection (a) of section two of chapter sixty-five C).

Budget and Finance

https://malegislature.gov/Bills/191/S1635