summary
Introduced
03/29/2021
03/29/2021
In Committee
03/29/2021
03/29/2021
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
192nd General Court
Bill Summary
Relative to the Massachusetts estate tax. Revenue.
AI Summary
This bill amends the Massachusetts estate tax law. It establishes that if the value of the decedent's taxable estate is over $20 million, the tax owed to the commonwealth shall be $2,676,400 plus 19% of the excess of $20 million. The bill also creates a credit of $35,000 that can be applied to the estate tax if the value of the decedent's taxable estate is between $1 million and $1.05 million, but this credit is reduced by 70 cents for each $1 the estate exceeds $1 million.
Committee Categories
Budget and Finance
Sponsors (6)
Smitty Pignatelli (D)*,
Paul Schmid (D)*,
Brian Ashe (D),
Brian Murray (D),
Dave Robertson (D),
Tommy Vitolo (D),
Last Action
Accompanied a new draft, see H4997 (on 07/11/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/192/H3038 |
| Bill | https://malegislature.gov/Bills/192/H3038.pdf |
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