Massachusetts Tax Rates & Rankings MA State Taxes

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Clothing massachusetts state income taxing under $175 per item is fully exempt from the state sales tax rate (with items over $175 only being taxes on the amount exceeding the $175 exclusion). Liquor used to be subject to the state sales tax, but this tax was repealed as of 2010. Property taxes in Massachusetts are one of the most significant sources of revenue for local governments. In some counties, median property taxes paid exceed $5,300 per year.

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Most state programs available in January; software release dates vary by state. State e-File for business returns only available in CA, CT, MI, NY, VA, WI. Terms and conditions apply; seeAccurate Calculations Guaranteefor details. The table below provides the mean amount of property taxes paid in 2012, as well as property tax as a mean percentage of home value for 2014, in Massachusetts and neighboring states.

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Rocky was a Senior Tax Editor for Kiplinger from October 2018 to January 2023. He has more than 20 years of experience covering federal and state tax developments. Before coming to Kiplinger, he worked for Wolters Kluwer Tax & Accounting and Kleinrock Publishing, where he provided breaking news and guidance for CPAs, tax attorneys, and other tax professionals. He has also been quoted as an expert by USA Today, Forbes, U.S. News & World Report, Reuters, Accounting Today, and other media outlets. Rocky has a law degree from the University of Connecticut and a B.A.

Records must be kept for at least 3 years from the date the return was filed or the date it was required to be filed, whichever is later. Returns may also be audited for up to 6 years if taxpayers understate the tax that should have been reported on the return by more than 25%. If you failed to file a return or filed a false or fraudulent return, we may request records at any time.

Massachusetts Estate and Inheritance Taxes

If buying multiple items, any sales tax is charged only on individual items over $175, no matter what the total bill is. Some taxpayers are required to file amended returns and applications for abatement electronically.See if electronic filing and payment requirements apply to you. All employers must withhold federal taxes from their employees’ wages. You’re required to withhold 7.65 percent of their taxable wages, and your employees are responsible for 7.65 percent, adding up to the current federal tax rate of 15.3 percent.

  • It does not include other provisions that could affect the amount of taxes an individual or business taxpayer must pay (e.g., exemptions, deductions, credits, and apportionment formulas).
  • If the due date falls on a weekend or holiday, then your sales tax filing is generally due the next business day.
  • Help us achieve our vision of a world where the tax code doesn’t stand in the way of success.
  • Usually these discounts are designed to save you a bit of money, as a reward for complying with the sales tax system.

You must claim your refund or credit within a certain time period, as further detailed below. Also, the Department of Revenue must issue refunds within a certain time period or pay interest on the amount of the refund. This page contains important information on the time limitations for claiming a refund and on the calculation of interest.

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