Bill > H2850

This bill proposes to update the estate tax in Massachusetts. Specifically, it would change the calculation of the estate tax by reducing the federal taxable estate by $2 million before determining the credit for state death taxes. This would effectively increase the estate tax exemption, meaning estates with a federal taxable estate of $2 million or less would not be required to pay any estate tax in Massachusetts. The changes would apply to the estates of decedents dying on or after July 1, 2023.

Budget and Finance

https://malegislature.gov/Bills/193/H2850