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Bill > H2648


MA H2648

Relative to tax withholding for individual retirement accounts


summary

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

Introduced Session

190th General Court

Bill Summary

Relative to tax withholding for individual retirement accounts. Revenue.

AI Summary

This bill amends Chapter 62 of the General Laws to allow individuals who receive payments or distributions from an individual retirement account (IRA) to choose the amount of income taxes to be withheld from such payments or distributions, regardless of whether the payment is subject to federal withholding. The individual must file a form specifying the desired withholding amount with the payer of the IRA and the state commissioner.

Committee Categories

Budget and Finance

Sponsors (2)

Last Action

Accompanied a study order, see H4244 (on 02/22/2018)

bill text


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