Taxes

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How Do Business Taxes in MA Compare to Other States?

MassBudget analyzed a recent data report by The Council on State Taxation (COST) - a Washington DC based trade association representing over 500 multistate and ...
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Presentation: Ending the Tax Penalty Against Working Immigrants

On March 14, 2024, Interim President Phineas Baxandall joined the Black and Latino Caucus and the Healthy Families Tax Credits Coalition at the Statehouse for ...
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Ending the Tax Penalty Against Working Immigrants

Extending EITC eligibility to all workers filing taxes, regardless of their immigration status, would increase its impact, help expand economic opportunity, and support low- and ...
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ALL TAXES REPORTS

Preventing High-Income Tax Avoidance to Protect Education and Transportation

Problems with potential high-income tax avoidance can be solved by following many other states that require that taxpayers file their state income taxes with the ...
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Memo to Governor Healey on Ways to Ensure Effective Implementation of the Fair Share Amendment

As Massachusetts voters have amended the state constitution to include a 4 percent surtax on taxable income over $1 million, MassBudget would like to offer ...
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Family Tax Credit Diagram

Letter to Governor-elect Healey and Lieutenant Governor-elect Driscoll on a Family Tax Credit

A letter to Governor-elect Healey and Lieutenant Governor-elect Driscoll on a consolidating different family tax supports into one simpler, fully refundable Family Tax Credit.
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“Excess” as Mirage: How the 62F Tax Cap Distorts Our View of Massachusetts Tax Revenue

The 1986 tax cap law, also known as “62F,” artificially limits the amount of tax revenue available to address priorities like affordable, quality childcare, safer ...
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Fair Share Would Increase Total Tax Rates Only Modestly for Most with Incomes Over $1 Million

Because the Fair Share surtax would apply a 4 percent surtax only to the portion of a household’s taxable income above $1 million, the total ...
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The Fair Share Millionaire Tax and Home Sales: What 2021 Data Shows

Based on industry data from the Warren Group on home sales in Massachusetts, previous analysis has shown how rare it is that a sale might ...
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The Myth of the One-Year Middle Class Millionaire

“One-time” occurrences of $1 million income are relatively rare overall, and in fact much rarer for the middle-class. It is far more common for tax ...
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Very Few Small Businesses Sell for More Than $1 Million; Even Fewer Would be Subject to Fair Share

Will small business owners be subject to the proposed Fair Share tax if and when they sell their businesses? Very unlikely.
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Even Among Retirees with High Wealth, Few Will Pay the Fair Share Tax

The proposed “millionaire tax” only applies to the portion of a taxpayer’s annual taxable income over $1 million. For many retirees, much of their income ...
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Fundamentally Flawed: 62F Formula Overstates “Excess” by $1.4 Billion

The $2.9 billion estimate of 62F "excess tax collections" recently certified by the State Auditor overstates these net Fiscal Year (FY) 2022 collections by $1.4 ...
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Where Might Home Sales Be Subject to the Fair Share Amendment? A Local Breakdown

In the majority of Massachusetts cities and towns, no homes sold for a net gain of $1 million or more, meaning they wouldn't be subject ...
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62F Credits Benefit the Rich

The “tax cap law,” or what is known as “62F,” sets an artificial limit on how much tax revenue Massachusetts can collect, regardless of the ...
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Interactive Map: Most Home Sales Will Not Likely Lead to Fair Share Tax Payments

Even in Massachusetts’ hot housing market with many homes selling for over $1 million, the vast majority of all home sales will not subject the ...
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Fair Share Facts: New Report Tackles “Millionaires Tax” Claims

Contact: Reginauld Williams, 617-426-1228×102, rwilliams@massbudget.org For Immediate Release: Thursday September 15, 2022 BOSTON – With just over 50 days left until the general election here ...
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Best Research Underscores Value of Fair Share Amendment for Massachusetts Residents

An extensive body of research shows that Fair Share would improve tax fairness, support economic and racial justice, and strengthen our state economy. The research ...
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