Massachusetts has made the following changes to the tax laws for the 2021 tax year:
2022 Personal Income Tax Rates
- Effective for tax years beginning on or after January 1, 2020, the tax rate on most classes of taxable income has been changed to 5%.
Annual Update of Circuit Breaker Tax Credit
- Massachusetts has done an annual update on the income thresholds for the Senior Circuit Breaker Tax Credit. Your total income cannot exceed $64,000 for single filers, $80,000 for a head of household filer, and $96,000 for joint filers.
Credits starting in 2023
- Massachusetts has approved several new tax credit starting in 2023. To review these credits, please see the state income tax instructions.
- Massachusetts Form 1 and any state tax payments are due on or before April 18, 2023.
For more details on these changes, please click here.