Questions & Answers

What is the Massachusetts voluntary higher tax rate?

You can elect to voluntarily pay tax at a rate of 5.85% on taxable income which would otherwise be taxed at a rate of 5.1%. Very few people make this election, and there's no tax benefit to making the election. If you make the election, you're voluntarily paying more Massachusetts taxes than you need to.

The election to pay tax at the rate of 5.85% does not apply to items of income taxed at 12% (like short-term capital gains and gains on collectibles).

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