Taxes

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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 public transportation, and affordable housing. Moreover, there are flaws in the 62F law and its underlying formula. 62F tells a story about revenue in Massachusetts, but it is misleading.

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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 tax rate of the vast majority of Fair Share-affected filers would be much lower than the top rate of 9 percent.

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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 generate taxable capital gains of $1 million or more. But what does the data say about home sales that might have created taxable income over $1 million in 2021?

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ALL TAXES REPORTS

Credit Where Credit is Due: The EITC and CTC – two proven tools to keep low-paid workers out of poverty

One of the most successful ways to lift people out of poverty is through tax credits targeted to low- and moderate-income families. Families use these credits to reduce their income taxes or receive a refund check. The Earned Income Tax Credit (EITC) and Child Tax Credit (CTC) are two widely successful tax credit programs for improving family economic security and well-being — combined, the credits lift more people out of poverty than any other federal program except Social Security. Nonetheless, there are opportunities to make these programs even better.

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The Pros and Cons of Higher Gas Taxes, and How They Could be Offset for Lower-Income Families

As the Commonwealth seeks to improve our aging transportation system, policy makers have considered raising the gas tax. This paper assesses the gas tax along several well-established criteria for evaluating taxes: efficiency, fairness, and reliability. Based on these criteria, the gas tax receives mixed grades. Offsetting the tax with low-income tax credits could help.

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Infographic: Celebrating Latinx Heritage Month

In honor of National Hispanic Heritage Month, also known as #LatinxHeritageMonth (running Sept. 15-Oct. 15), our infographics analyze the number of eligible Hispanic tax filers per county that could or already benefitting from the Earned Income Tax Credit (EITC).

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Corporate Minimum Taxes in Massachusetts Could Be Better Targeted as in Other States [Corp. Tax Series Pt. 3]

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Single Sales Factor: a Tax Break with a Poor Record of Performance [Corp. Tax Series Pt. 2]

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How Do Business Taxes in MA Compare to Other States? [Corp. Tax Series Pt. 1]

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Infographics: Labor Day on EITC and CITC

Infographics showing who would benefit from the expansion of the Earned Income Tax Credit (EITC) and Child Tax Credit (CTC) here in Massachusetts.

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Testimony to the Joint Committee on Revenue on the EITC

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Testimony to the Joint Committee on Revenue on the Single Sales Factor Apportionment Formula, How It Works, and What It Costs

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Testimony to the Joint Committee on Revenue on the Incidence of State and Local Taxes in Massachusetts and Effects of the Fair Share Amendment

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Income Tax Cuts Cost Massachusetts Over $4 Billion Annually, and Benefits Mostly Go to Highest Incomes

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Why Highest Incomes in Massachusetts Receive Most Tax Benefits from Charitable Deduction

Even considering how higher-income households have more money to give away, the tax benefits of charitable tax deductions are heavily skewed toward the top.

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14 Options for Raising Progressive Revenue

How to collect enough revenue to pay for the things we accomplish together as a Commonwealth and how to collect that revenue fairly are questions that every community and every state need to examine. This paper describes 14 ways the Commonwealth could generate substantial new revenue in a manner that makes our tax system more progressive and would not require changing the state constitution.

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MA Taxes on Par with U.S. Average in FY 2016

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How Has the Level of Taxes in Massachusetts Changed Compared to Other States?

   

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