SENATE DOCKET, NO. 888        FILED ON: 1/18/2023

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1845

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Patricia D. Jehlen

_________________

To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act relative to the estate tax.

_______________

PETITION OF:

 

Name:

District/Address:

 

Patricia D. Jehlen

Second Middlesex

 

Rebecca L. Rausch

Norfolk, Worcester and Middlesex

1/25/2023

Sal N. DiDomenico

Middlesex and Suffolk

2/3/2023

Mike Connolly

26th Middlesex

2/3/2023

Jason M. Lewis

Fifth Middlesex

2/6/2023

James B. Eldridge

Middlesex and Worcester

2/10/2023

Danillo A. Sena

37th Middlesex

2/23/2023

Rita A. Mendes

11th Plymouth

4/21/2023

Vanna Howard

17th Middlesex

12/7/2023

Manny Cruz

7th Essex

12/11/2023


SENATE DOCKET, NO. 888        FILED ON: 1/18/2023

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1845

By Ms. Jehlen, a petition (accompanied by bill, Senate, No. 1845) of Patricia D. Jehlen, Rebecca L. Rausch, Sal N. DiDomenico, Mike Connolly and other members of the General Court for legislation relative to the estate tax.  Revenue.

 

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE SENATE, NO. 1884 OF 2021-2022.]

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninety-Third General Court
(2023-2024)

_______________

 

An Act relative to the estate tax.

 

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

SECTION 1. Subsection (a) of section 2A of chapter 65C of the General Laws, as appearing in the 2020 Official Edition, is hereby amended by adding the following sentence:- If the value of the decedent’s taxable estate is over $20,000,000 or more, the tax owed to the commonwealth shall be $2,676,400 plus 19 per cent of the excess of $20,000,000. 

SECTION 2. Said chapter 65C is hereby further amended by inserting after section 2A the following section:-

Section 2B. If the value of the decedent’s taxable estate is equal to $1,000,000, but does not exceed $1,050,000, a credit of $35,000 shall be applied to the taxes owed to the commonwealth pursuant to section 2A; provided, that the amount of the credit allowable pursuant to this section shall be reduced by 70 cents for each $1 by which the value of the decedent’s taxable estate exceeds $1,000,000.