Bill > S1989

This bill proposes to modify the Massachusetts estate tax law by increasing the estate tax exemption threshold from the current level to $5,000,000. Specifically, the bill amends Section 2A of chapter 65C of the general laws to add a provision that no estate tax will be imposed on estates valued at or less than $5,000,000. This change would effectively raise the tax-free threshold for estate transfers, potentially providing significant tax relief for many Massachusetts families by reducing the tax burden on smaller and mid-sized estates. The modification aims to make the state's estate tax more favorable to property owners and potentially help families preserve more of their inherited wealth.

Budget and Finance

https://malegislature.gov/Bills/194/S1989