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Bill > S1566

MA S1566

Relative to the exemption of private pension income from taxation

summary

Introduced
01/23/2017
In Committee
01/23/2017
Crossed Over
Passed
Dead
12/31/2018

Introduced Session

190th General Court

Bill Summary

For legislation to exempt private pension income from taxation. Revenue.

AI Summary

This bill aims to exempt private pension income from taxation. It proposes to amend the state's tax code to allow individuals under the age of 60 to exclude up to $2,000 in pension income from their taxable income, and individuals age 60 or older to exclude up to $12,500 in pension income and other eligible retirement income, such as distributions from qualified retirement plans, 401(k) plans, government deferred compensation plans, dividends, capital gains, interest, and rental income.

Committee Categories

Budget and Finance

Sponsors (1)

Last Action

Accompanied a study order, see S2497 (on 04/30/2018)
(16 Companion Bills)

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Document Type Source Location
State Bill Page https://malegislature.gov/Bills/190/S1566
Bill https://malegislature.gov/Bills/190/S1566.pdf
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