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Teensy Weensy Tax Cut May Be On Horizon for Massachusetts

Teensy Weensy Tax Cut May Be On Horizon for Massachusetts

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Massachusetts taxpayers could see a small reduction in their state income taxes next year if revenue projections hold. By law, the state's income tax has to go down 0.05 percent if state revenues meet certain thresholds. So the tax rate on January 1, 2019 could be 5.05 percent, down from 5.1 percent now.

Massachusetts taxpayers could see a small reduction in their state income taxes next year if revenue projections hold. By law, the state's income tax has to go down 0.05 percent if state revenues meet certain thresholds. So the tax rate on January 1, 2019 could be 5.05 percent, down from 5.1 percent now.…