Bill > S1509

This bill amends the Massachusetts estate tax law to increase the exemption amount for decedents dying after December 31, 2016. Specifically, it provides an exemption equal to the Massachusetts net estate (up to $1.2 million) if the net estate is $1.2 million or less, and an exemption based on an inflation-adjusted $1.2 million if the net estate exceeds that amount, but not to exceed the smallest federal taxable estate that absorbs the allowable federal credit. The bill also clarifies that the exemption only applies if the Massachusetts net estate does not exceed the exemption amount.

Budget and Finance

https://malegislature.gov/Bills/190/S1509