Massachusetts
MA · state · 27 cited facts
| Category | Provision | Value | Source |
|---|---|---|---|
| trust-nexus | Incomplete-gift nongrantor trust / ING (income tax reach) | UNRESOLVED, no escape: the TRUST is outside the tax (c. 62 s. 10(c) needs a Massachusetts trustee, and there is none), but that is precisely what triggers c. 62 s. 11, which taxes an inhabitant on income merely 'available' to them from a trustee not taxable in Massachusetts, with no distribution required. An ING settlor is by design a permissible discretionary distributee. No authority defines 'available' for a committee-gated interest, so the gain is not safely outside the tax | sources (2)Mass. G.L. c. 62 Sec. 10(c); 830 CMR 62.10.1(1)(b) · high confidence · as of 2026-07-13 · TY 2026 Massachusetts taxes an inter vivos trust only through a Massachusetts trustee, so the TRUST itself is outside the tax (c) The provisions of subsections (a) and (b) of this section shall apply to guardians and conservators; trustees and executors under the will of a person who died an inhabitant of the commonwealth; and trustees under a trust created by a person or persons, any one of whom was an inhabitant of the commonwealth at the time of the creation of the trust or at any time during the year for which the income is computed, or who died an inhabitant of the commonwealth, any one of which trustees or other fiduciaries is an inhabitant of the commonwealth Note: Conjunctive: a MA settlor is not enough, a MA-inhabitant trustee is also required. 830 CMR 62.10.1(1)(b) restates the trustee-residence bright line (and is currently posted by DOR as a PROPOSED REPEAL). s. 10(e) grantor attribution reaches only federal grantor trusts, and an ING is nongrantor. Trust-level jurisdiction is therefore absent, WHICH IS EXACTLY WHAT TRIGGERS s. 11 (see MA_TRUST_ING_SETTLOR_HOOK). https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter62/Section10Mass. G.L. c. 62 Sec. 11 · high confidence · as of 2026-07-13 · TY 2026 Massachusetts taxes an inhabitant on trust income merely AVAILABLE to them from a non-taxable trustee, with no distribution required Any inhabitant of the commonwealth who receives, is entitled to, or to whom income is available from one or more trustees or other fiduciaries who are not subject to taxation under this chapter, shall be subject to the taxes imposed by this chapter upon such income according to the nature of the income received by such trustees, or other fiduciaries, and shall include such income in a return as required by section six of chapter sixty-two C. Note: s. 11 is triggered BY the trust being outside s. 10: the very fact that wins the trust-level analysis is the predicate for this one. An ING settlor is BY DESIGN a permissible discretionary distributee (that retained access is what makes the gift incomplete), so the retained gain is at least arguably 'available' to a MA inhabitant, and the statute conditions nothing on an actual distribution ('receives, is entitled to, or to whom income is available'). No MA statute, regulation, ruling, or case defines 'available' for a committee-gated discretionary interest, so the outcome turns on an untested term DOR would plainly assert. UNRESOLVED, therefore NOT an escape: the catalog never promises one without authority. A clean MA result requires excluding the settlor (and every MA resident) as a beneficiary, which defeats the purpose of an ING. https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter62/Section11 |
| conformity | Federal conformity / capital-gains base | Static-date conformity: G.L. c. 62 §1 defines 'Code' as the IRC as amended on January 1, 2024 and in effect for the taxable year | sources (1)M.G.L. c. 62 §1 · high confidence · as of 2026-07-03 · TY 2025 Massachusetts personal income tax adopts the IRC as amended on January 1, 2024 and in effect for the taxable year "Code", the Internal Revenue Code of the United States, as amended on January 1, 2024 and in effect for the taxable year Note: Static conformity date of January 1, 2024. Long-term capital gains are Part C income under c. 62; the static date is why post-OBBBA §1202 changes do not flow through (see ma-qsbs-conformity). https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter62/Section1 |
| rate | Long-term capital gains rate (TY2025) | 5% (+ 4% surtax above $1,083,150 = 9% combined for high-income filers) | sources (1)G.L. c. 62, §4(a); M.G.L. c. 62, §2(b) · high confidence · as of 2026-06-10 · TY 2025 Massachusetts taxes long-term capital gains at 5%; short-term capital gains at 8.5% Part B taxable income is taxed at 5%. Note: The 8.5% rate on Part A income (short-term capital gains, collectibles) is set by G.L. c. 62, §2(b)(1)(iii). Netting between Part A and Part B income is required: net capital loss in Part A may offset Part B income. Character matters for mixed portfolios but ties for a pure all-LT estimand (both loss characters reduce the same Part B base when crossing into Part B). https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter62/Section4 |
| character | Short-term capital gains rate | 8.5% (+ 4% surtax above $1,083,150 = 12.5% combined) character split is the realization lever | sources (1)G.L. c. 62, §4(a); M.G.L. c. 62, §2(b) · high confidence · as of 2026-06-10 · TY 2025 Massachusetts taxes long-term capital gains at 5%; short-term capital gains at 8.5% Part B taxable income is taxed at 5%. Note: The 8.5% rate on Part A income (short-term capital gains, collectibles) is set by G.L. c. 62, §2(b)(1)(iii). Netting between Part A and Part B income is required: net capital loss in Part A may offset Part B income. Character matters for mixed portfolios but ties for a pure all-LT estimand (both loss characters reduce the same Part B base when crossing into Part B). https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter62/Section4 |
| surcharge | Income surtax on income above $1,083,150 (TY2025) | 4% additional on all income above threshold (LT: 5%+4%=9%; ST: 8.5%+4%=12.5%) | sources (1)G.L. c. 62, §4(d) (Mass. Const. art. XLIV as amended by the 2022 Fair Share measure) · high confidence · as of 2026-06-10 · TY 2025 Massachusetts 4% surtax on income above $1,083,150 (TY2025, inflation-adjusted annually) Where the sum of Part A taxable income, Part B taxable income and Part C taxable income exceeds $1,000,000 in a taxable year, the portion of such taxable income exceeding $1,000,000 shall be taxed at the rates specified in subsections (a) to (c), inclusive, plus an additional 4 per cent. Note: TY2025 threshold: $1,083,150 (inflation-adjusted annually). Combined top LT rate: 5% + 4% = 9% on long-term capital gains above $1,083,150. Combined top ST rate: 8.5% + 4% = 12.5% on short-term gains above $1,083,150. https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter62/Section4 |
| carryforward | Capital-loss carryforward | Indefinite character preserved (Part A loss stays Part A; Part B loss stays Part B) | sources (1)G.L. c. 62, §2(c) · high confidence · as of 2026-06-10 · TY 2025 Massachusetts capital loss carryforward is indefinite with character preserved If Part A net capital loss for the year exceeds the Part C net capital gain for the year, then the excess, if any, of Part A net capital loss, after accounting for any deduction against interest and dividend income, shall be a Part A capital loss under this paragraph in the succeeding taxable year.https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter62/Section2 |
| muni-instate | In-state muni bond interest | Exempt: MA Gen. Laws c.62 §2 subtracts interest on MA commonwealth obligations from MA gross income | sources (1)Massachusetts General Laws Chapter 62, Section 2 · high confidence · as of 2026-06-18 · TY 2025 MA exempts MA-issued muni bonds; out-of-state muni bond interest is taxable under GL c.62 §2 Interest on governmental obligations excluded under section one hundred and three of the Code, other than interest from any such obligation issued by the commonwealth, any political subdivision thereof, or any agency or instrumentality of either of the foregoing. Note: GL c.62 §2 includes IRC §103 interest in MA gross income, then provides a specific subtraction for MA-issued bonds only. Out-of-state muni interest included in MA gross income and taxable. https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter62/Section2 |
| muni-outstate | Out-of-state muni bond interest | Taxable: MA Gen. Laws c.62 §2 includes out-of-state muni interest in MA gross income (only MA bonds subtracted) | sources (1)Massachusetts General Laws Chapter 62, Section 2 · high confidence · as of 2026-06-18 · TY 2025 MA exempts MA-issued muni bonds; out-of-state muni bond interest is taxable under GL c.62 §2 Interest on governmental obligations excluded under section one hundred and three of the Code, other than interest from any such obligation issued by the commonwealth, any political subdivision thereof, or any agency or instrumentality of either of the foregoing. Note: GL c.62 §2 includes IRC §103 interest in MA gross income, then provides a specific subtraction for MA-issued bonds only. Out-of-state muni interest included in MA gross income and taxable. https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter62/Section2 |
| qoz-conformity | QOZ conformity (IRC §1400Z-2) | Conforms to IRC §1400Z-2 QOZ gain deferral and 10-year exclusion via rolling IRC conformity | sources (1)TIR 23-5; G.L. c. 62 §1 · medium confidence · as of 2026-06-19 · TY 2025 Massachusetts conforms to IRC §1400Z-2 QOZ gain deferral and exclusion Massachusetts adopts the Internal Revenue Code as amended and in effect for the taxable year. Note: Massachusetts TIR 23-5 confirms §1400Z-2 conformity via rolling IRC conformity under G.L. c. 62 §1. Confidence medium: URL is DOR guidance, not a legislature/codified-law page. https://www.mass.gov/technical-information-release/tir-23-5-chapter-62-conformity-to-select-provisions-of-the-2022-internal-revenue-code |
| qsbs-conformity | QSBS conformity (IRC §1202, stock acquired through July 4, 2025) | Conforms to the pre-OBBBA §1202 exclusion including the 100% tier for stock acquired after September 27, 2010 (the January 1, 2024 Code) | sources (1)M.G.L. c. 62 §§1 and 4(c); TIR 23-5 · medium confidence · as of 2026-06-22 · TY 2025 Massachusetts conforms to IRC §1202 QSBS exclusion including the 100% tier for stock acquired after September 27, 2010 Massachusetts adopts the Internal Revenue Code as amended and in effect for the taxable year. Note: Massachusetts General Laws c. 62 §1 establishes rolling IRC conformity; TIR 23-5 confirms §1202 conformity applies. Verbatim quote sourced from statute definition of conformity mechanism. DOR guidance document URL accessed and rolling conformity principle confirmed. Confidence set to medium: DOR guidance document (not live statute text) as primary citation. https://www.mass.gov/technical-information-release/tir-23-5-chapter-62-conformity-to-select-provisions-of-the-2022-internal-revenue-code |
| qsbs-conformity | QSBS conformity (stock acquired after July 4, 2025) | Partial: MA static conformity (IRC as of January 1, 2024, TIR 26-4) keeps the old 100%/5-year §1202 but NOT the OBBBA 50%/3yr and 75%/4yr tiers, $15M cap, or $75M asset test | sources (1)MA DOR TIR 26-4 (June 23, 2026); M.G.L. c. 62 §1 · medium confidence · as of 2026-07-03 · TY 2026 Massachusetts conforms to the IRC as of January 1, 2024, so OBBBA's §1202 changes (3/4-year tiers, $15M cap, $75M asset test) do not apply The Massachusetts income tax generally determines Massachusetts gross income based on the Code as amended and in effect on January 1, 2024. Note: Section 1202 is not on the c. 62 §1 rolling-conformity list. Stock acquired after July 4, 2025 and sold at the new federal 3- or 4-year tiers is partially excluded federally but fully taxable in Massachusetts; the pre-OBBBA 100%/5-year exclusion (in the January 1, 2024 Code) still applies. https://www.mass.gov/technical-information-release/tir-26-4-massachusetts-conformity-to-certain-provisions-in-public-law-no-119-21 |
| agency-obligations | GSE bond interest (FNMA/FHLMC) | Taxable: M.G.L. c. 62 §2(a)(2) subtraction requires income be exempt 'under the laws of the United States'; FNMA and FHLMC have no federal bondholder exemption statute | sources (1)M.G.L. c. 62, §2(a)(2)(A) · medium confidence · as of 2026-06-20 · TY 2025 Massachusetts subtraction for U.S. government interest requires income be exempt under federal law; FNMA and FHLMC have no such federal bondholder exemption There shall be excluded from gross income... interest income derived from obligations of the United States government... to the extent such interest income is exempt from state income taxes under the laws of the United States. Note: The MA exemption requires that interest be exempt 'under the laws of the United States.' FNMA (12 U.S.C. §§1719(e), 1723a(c)) and FHLMC (12 U.S.C. §1455(a)) contain no bondholder exemption from state income taxes; both statutes speak only to the corporation itself. TIR 89-8 (MA DOR guidance on government obligations) provides an explicit list but URL returns 403; the structural statutory analysis is conclusive: no federal mandate, no MA exclusion. Confidence: medium (structural analysis confirmed, but no MA DOR document with verbatim FNMA/FHLMC name retrieved). https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter62/Section2 |
| dividend-qualified | Qualified dividend income | Ordinary rate: Massachusetts has no modification creating a preferential rate for qualified dividends; IRC §1(h)(11) preference not adopted; dividends taxed as ordinary Part B income at 5% | sources (1)G.L. c. 62, §4(a); M.G.L. c. 62, §2(b) · high confidence · as of 2026-06-10 · TY 2025 Massachusetts taxes long-term capital gains at 5%; short-term capital gains at 8.5% Part B taxable income is taxed at 5%. Note: The 8.5% rate on Part A income (short-term capital gains, collectibles) is set by G.L. c. 62, §2(b)(1)(iii). Netting between Part A and Part B income is required: net capital loss in Part A may offset Part B income. Character matters for mixed portfolios but ties for a pure all-LT estimand (both loss characters reduce the same Part B base when crossing into Part B). https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter62/Section4 |
| treasury | U.S. Treasury interest | Exempt: 31 U.S.C. §3124(a) prohibits state taxation of U.S. government obligations (T-bills, T-notes, T-bonds, TIPS, I-bonds) | sources (1)31 U.S.C. §3124(a) · high confidence · as of 2026-06-20 · TY 2025 U.S. Treasury interest exempt from Massachusetts income tax: 31 U.S.C. §3124(a) prohibits state taxation of U.S. government obligations Stocks and obligations of the United States Government are exempt from taxation by a State or political subdivision of a State. The exemption applies to each form of taxation that would require the obligation, the interest on the obligation, or both, to be considered in computing a tax. Note: 31 U.S.C. §3124(a) preempts state income taxation of U.S. government obligations. Covers T-bills, T-notes, T-bonds, TIPS, and I-bonds. Most states allow a deduction or subtraction by statute cross-referencing this federal preemption. https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section3124 |
| fhlb-ffcb | FHLB and FFCB bond interest | Exempt: 12 U.S.C. §1433 (Federal Home Loan Bank Act) and 12 U.S.C. §2023 (Farm Credit Act) mandate state tax exemption for FHLB and FFCB securities | sources (2)12 U.S.C. §1433 (Federal Home Loan Bank Act) · high confidence · as of 2026-06-20 · TY 2025 FHLB and FFCB bond interest exempt from Massachusetts income tax: federal enabling statutes mandate state tax exemption Any security issued under this chapter by a Federal home loan bank, including the stock thereof, shall be exempt from taxation, except taxes upon real estate, by any State, county, municipality, or local taxing authority. Note: 12 U.S.C. §1433 (FHLB) and 12 U.S.C. §2023 (FFCB/Farm Credit Act) both mandate state tax exemption for securities issued under their chapters. Contrasts with FNMA (12 U.S.C. §§1719(e), 1723a(c)) and FHLMC (12 U.S.C. §1455(a)) which have no bondholder exemption statute and whose interest is taxable by income-tax states. https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1433&num=0&edition=prelim12 U.S.C. §2023 (Farm Credit Act) · high confidence · as of 2026-06-20 · TY 2025 Farm Credit Act: notes, bonds, debentures, and other obligations of Farm Credit Banks are instrumentalities of the United States exempt from all State, municipal, and local taxation The mortgages held by the Farm Credit Banks and the notes, bonds, debentures, and other obligations issued by the banks shall be considered and held to be instrumentalities of the United States and, as such, they and the income therefrom shall be exempt from all Federal, State, municipal, and local taxation, other than Federal income tax liability of the holder thereof under the Public Debt Act of 1941 (31 U.S.C. 3124). Note: 12 U.S.C. §2023 explicitly covers 'the income therefrom' (i.e., interest payments to bondholders), exempting it from all State and local taxation. The only carve-out is federal income tax on the holder. Parallel to 12 U.S.C. §1433 (FHLB Act), which exempts FHLB securities from state taxation. Together §1433 and §2023 mandate state and local tax exemption for both FHLB and FFCB bond interest. Shared across all jurisdictions: a single object reference satisfies buildCitationIndex() identity check. https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2023&num=0&edition=prelim |
| carryback | Capital loss carryback | None: IRC §1212(b) provides carryforward only for non-corporate taxpayers; no carryback to prior years | sources (1)IRC §1212(b) · high confidence · as of 2026-06-21 · TY 2025 IRC §1212(b): capital losses carry forward only for non-corporate taxpayers; no carryback In the case of a taxpayer other than a corporation, if there is a net capital loss for any taxable year: (1) the excess of the net short-term capital loss over the net long-term capital gain for such year shall be a short-term capital loss in the succeeding taxable year, and (2) the excess of the net long-term capital loss over the net short-term capital gain for such year shall be a long-term capital loss in the succeeding taxable year. Note: IRC §1212(b) limits non-corporate taxpayers to carrying losses forward only ('succeeding taxable year'). IRC §1212(a), which allows a 3-year carryback, applies only to corporations. For conformity states, the federal carryforward amount flows to the state return unchanged. https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section1212&num=0&edition=prelim |
| estate-rate | Estate tax top marginal rate (TY2025) | 0.8% to 16% graduated (using IRC as of December 31, 2000); $99,600 credit effectively exempts estates at $2,000,000; above $2M, tax applies to full estate minus credit (M.G.L. c. 65C) | sources (1)M.G.L. c. 65C; Massachusetts DOR · medium confidence · as of 2026-06-21 · TY 2025 Massachusetts estate tax: 0.8% to 16% graduated; $2,000,000 threshold with $99,600 credit (effective for deaths on or after January 1, 2023) Massachusetts estate tax returns are required if the gross estate, plus adjusted taxable gifts, computed using the Internal Revenue Code in effect on December 31, 2000, exceeds $2,000,000 for dates of death on or after January 1, 2023. A new law provided a credit of up to $99,600, thereby eliminating the tax for estates valued at $2 million or less and reducing the tax for estates valued at more than $2 million. Note: MA uses IRC as of December 31, 2000 (decoupled from current federal law). The $99,600 credit is equivalent to the tax on a $2M estate under the applicable rate schedule, effectively creating a $2M exemption. Rate schedule runs 0.8%-16%. The 2023 law (Acts 2023, c. 50) created the credit for deaths on or after January 1, 2023. https://www.mass.gov/info-details/massachusetts-estate-tax-guide |
| estate-exemption | Estate tax threshold with credit (TY2025) | $2,000,000 threshold; $99,600 credit eliminates tax for estates at $2M and reduces it for estates above $2M; fixed, not inflation-adjusted | sources (1)M.G.L. c. 65C; Massachusetts DOR · medium confidence · as of 2026-06-21 · TY 2025 Massachusetts estate tax: 0.8% to 16% graduated; $2,000,000 threshold with $99,600 credit (effective for deaths on or after January 1, 2023) Massachusetts estate tax returns are required if the gross estate, plus adjusted taxable gifts, computed using the Internal Revenue Code in effect on December 31, 2000, exceeds $2,000,000 for dates of death on or after January 1, 2023. A new law provided a credit of up to $99,600, thereby eliminating the tax for estates valued at $2 million or less and reducing the tax for estates valued at more than $2 million. Note: MA uses IRC as of December 31, 2000 (decoupled from current federal law). The $99,600 credit is equivalent to the tax on a $2M estate under the applicable rate schedule, effectively creating a $2M exemption. Rate schedule runs 0.8%-16%. The 2023 law (Acts 2023, c. 50) created the credit for deaths on or after January 1, 2023. https://www.mass.gov/info-details/massachusetts-estate-tax-guide |
| filing-status-flat | Filing status irrelevant: flat rate state | Yes: rate schedule in M.G.L. ch. 62, §4 applies uniformly to all filing statuses; no bracket thresholds differentiated by filing status; 5% on Part B income (long-term capital gains, interest, dividends), 8.5% on Part A income (short-term capital gains), 9% on income above $1,083,150 with surtax | sources (1)G.L. c. 62, §4(a); M.G.L. c. 62, §2(b) · high confidence · as of 2026-06-10 · TY 2025 Massachusetts taxes long-term capital gains at 5%; short-term capital gains at 8.5% Part B taxable income is taxed at 5%. Note: The 8.5% rate on Part A income (short-term capital gains, collectibles) is set by G.L. c. 62, §2(b)(1)(iii). Netting between Part A and Part B income is required: net capital loss in Part A may offset Part B income. Character matters for mixed portfolios but ties for a pure all-LT estimand (both loss characters reduce the same Part B base when crossing into Part B). https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter62/Section4 |
| threshold | Income surtax threshold (TY2025 CPI-adjusted) | $1,083,150 (TY2025 CPI-adjusted; statutory base $1,000,000 per G.L. c. 62, §5B) | sources (1)G.L. c. 62, §4(d) (Mass. Const. art. XLIV as amended by the 2022 Fair Share measure) · high confidence · as of 2026-06-10 · TY 2025 Massachusetts 4% surtax on income above $1,083,150 (TY2025, inflation-adjusted annually) Where the sum of Part A taxable income, Part B taxable income and Part C taxable income exceeds $1,000,000 in a taxable year, the portion of such taxable income exceeding $1,000,000 shall be taxed at the rates specified in subsections (a) to (c), inclusive, plus an additional 4 per cent. Note: TY2025 threshold: $1,083,150 (inflation-adjusted annually). Combined top LT rate: 5% + 4% = 9% on long-term capital gains above $1,083,150. Combined top ST rate: 8.5% + 4% = 12.5% on short-term gains above $1,083,150. https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter62/Section4 |
| threshold | Income surtax threshold (TY2026 CPI-adjusted) | $1,107,750 (TY2026 CPI-adjusted; statutory base $1,000,000 per G.L. c. 62, §5B) | sources (1)Massachusetts DOR, 4% surtax on taxable income page; 2026 Form 1-ES instructions · medium confidence · as of 2026-07-03 · TY 2026 Massachusetts 4% surtax threshold is $1,107,750 for TY2026 The surtax threshold for tax year 2026 is $1,107,750. Note: mass.gov blocks automated fetch (403); the quote was cross-checked against multiple live renderings of the page and the 2026 Form 1-ES instructions. https://www.mass.gov/info-details/massachusetts-4-surtax-on-taxable-income |
| deduction | Personal exemption (Single) | $4,400 for single filers (G.L. c. 62, §3(B)(b)) | sources (1)G.L. c. 62, §3(B)(b) · high confidence · as of 2026-06-24 · TY 2025 Massachusetts personal exemptions: $4,400 for single; $8,800 for married filing jointly a personal exemption of $3,300 for tax years beginning on or after January 1, 2002 ... The personal exemption shall not exceed $4,400 [single / married filing separately]; a personal exemption of $6,600 for tax years beginning on or after January 1, 2002 ... The personal exemption shall not exceed $8,800 [husband and wife filing a joint return].https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter62/Section3 |
| deduction | Personal exemption (MFJ) | $8,800 for married couples filing jointly (G.L. c. 62, §3(B)(b)) | sources (1)G.L. c. 62, §3(B)(b) · high confidence · as of 2026-06-24 · TY 2025 Massachusetts personal exemptions: $4,400 for single; $8,800 for married filing jointly a personal exemption of $3,300 for tax years beginning on or after January 1, 2002 ... The personal exemption shall not exceed $4,400 [single / married filing separately]; a personal exemption of $6,600 for tax years beginning on or after January 1, 2002 ... The personal exemption shall not exceed $8,800 [husband and wife filing a joint return].https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter62/Section3 |
| migration-loss-conformity | Migration loss carryforward conformity | Disallowed: Massachusetts does not recognize out-of-state capital losses incurred while a nonresident for Massachusetts carryover purposes. | sources (1)G.L. c. 62, §2(c) · high confidence · as of 2026-06-10 · TY 2025 Massachusetts capital loss carryforward is indefinite with character preserved If Part A net capital loss for the year exceeds the Part C net capital gain for the year, then the excess, if any, of Part A net capital loss, after accounting for any deduction against interest and dividend income, shall be a Part A capital loss under this paragraph in the succeeding taxable year.https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter62/Section2 |
| ptet-available | Pass-through entity tax (SALT-cap workaround) available | Yes (G.L. c. 63D; annual election) | sources (1)G.L. c. 63D, §2 · high confidence · as of 2026-07-02 · TY 2025 Massachusetts elective pass-through entity excise is 5% of qualified income taxable in Massachusetts An eligible pass-through entity may elect to pay an excise on its qualified income taxable in Massachusetts at a rate of 5 per cent. Note: SALT-cap workaround: chapter 63D is an annual election by an eligible pass-through entity on its qualified income taxable in Massachusetts. https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter63D/Section2 |
| ptet-rate | Pass-through entity elective tax rate | 5% of qualified income taxable in Massachusetts | sources (1)G.L. c. 63D, §2 · high confidence · as of 2026-07-02 · TY 2025 Massachusetts elective pass-through entity excise is 5% of qualified income taxable in Massachusetts An eligible pass-through entity may elect to pay an excise on its qualified income taxable in Massachusetts at a rate of 5 per cent. Note: SALT-cap workaround: chapter 63D is an annual election by an eligible pass-through entity on its qualified income taxable in Massachusetts. https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter63D/Section2 |
| ptet-credit-mechanism | PTET owner recovery mechanism | Refundable credit, PARTIAL: 90% of the member's proportionate share of the excise paid (the 0.9 multiplier leaves 10% unrecovered) | sources (2)G.L. c. 63D, §2 · high confidence · as of 2026-07-02 · TY 2025 Massachusetts PTE excise: qualified members are allowed a refundable credit A qualified member of an electing eligible pass-through entity shall be allowed a refundable credit against the tax imposed under this chapter.https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter63D/Section2 G.L. c. 63D, §2 · high confidence · as of 2026-07-02 · TY 2025 Massachusetts PTE excise credit is PARTIAL: the member's proportionate share of the excise paid, multiplied by 0.9 in an amount proportionate to each qualified member's share of the tax due and paid under this chapter by the eligible pass-through entity multiplied by 0.9 Note: The 0.9 multiplier means 10% of the entity-level excise is never recovered by the member: Massachusetts's credit is 90% refundable, unlike the full-credit PTETs (CA, IL, NY). https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter63D/Section2 |