summary
Introduced
07/31/2023
07/31/2023
In Committee
07/31/2023
07/31/2023
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
193rd General Court
Bill Summary
Relative to the estate tax. Revenue.
AI Summary
This bill repeals Chapter 65A of the General Laws and amends Chapter 65C to modify the estate tax in Massachusetts. It imposes an excise tax on the transfer of estates over $2 million at a graduated rate schedule, with a top rate of 30% for estates over $10 million. The bill also exempts estates with a federal gross value of $2 million or less from paying any excise tax. These changes will take effect for taxable years beginning on or after January 1, 2023.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Accompanied a study order, see H4721 (on 06/13/2024)
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/193/H4029 |
| BillText | https://malegislature.gov/Bills/193/H4029.pdf |
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