![]() ![]() Then, you will upload your tax documents, and our tax pros will do the rest! We can help with your MA taxes, including federal deductions for paying state taxes. So, get help with H&R Block Virtual! With this service, we’ll match you with a tax pro with Massachusetts tax expertise. While the Massachusetts tax structure may seem straightforward, what isn’t is deducting your state taxes from your federal taxes as an itemized deduction. For example, if someone has $15,000 in taxable income in 2020, they would be taxed at the same rate as someone with $150,000 in taxable income within the year. What Are The Massachusetts Tax Brackets?īecause the state only has one flat tax amount, there are no Massachusetts tax brackets. If you’re a Massachusetts resident, you earn a wage in Massachusetts, and your gross income exceeds $8,000, you must generally file a Massachusetts personal income tax return by April 15th following the end of every tax year. The Massachusetts tax rate decreased from previous years. (Short term capital gains, collectibles and installment sales initiated before 1996 have a 12% tax rate.) The Massachusetts state tax rate is 5% on earned income (like salaries, commissions, tips, and wages) and unearned (interest, dividends, and certain capital gains) income. What is the Massachusetts State Tax Rate? This is different from other states, where your income tax percentage is based on upon filing status and income. Massachusetts individual income tax rate is flat, meaning, every resident is taxed the same percentage. Massachusetts, however is not one of them. In fact, 32 states have a progressive tax structure. ![]()
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