summary
Introduced
02/16/2023
02/16/2023
In Committee
02/16/2023
02/16/2023
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
193rd General Court
Bill Summary
For legislation relative to the estate tax. Revenue.
AI Summary
This bill proposes changes to the Massachusetts estate tax. Specifically, it states 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. Additionally, the bill introduces a credit of $35,000 for estates valued between $1 million and $1.05 million, with the credit reduced by 70 cents for every $1 the estate exceeds $1 million.
Committee Categories
Budget and Finance
Sponsors (10)
Pat Jehlen (D)*,
Mike Connolly (D),
Manny Cruz (D),
Sal DiDomenico (D),
Jamie Eldridge (D),
Vanna Howard (D),
Jason Lewis (D),
Rita Mendes (D),
Becca Rausch (D),
Dan Sena (D),
Last Action
Accompanied a study order, see H4721 (on 06/13/2024)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/193/S1845 |
| BillText | https://malegislature.gov/Bills/193/S1845.pdf |
Loading...