HOUSE DOCKET, NO. 4177        FILED ON: 1/17/2025

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3059

The Commonwealth of Massachusetts

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PRESENTED BY:

Mike Connolly

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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 promoting estate tax fairness.

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PETITION OF:

HOUSE DOCKET, NO. 4177        FILED ON: 1/17/2025

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3059

The Commonwealth of Massachusetts

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In the One Hundred and Ninety-Fourth General Court
(2025-2026)

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An Act promoting estate tax fairness.

 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. Chapter 65A of the General Laws is hereby repealed.

 SECTION 2. Chapter 65C of the General Laws, as appearing in the 2020 Official Edition, is hereby amended by striking out section 2A and inserting in place thereof the following section:-

 Section 2A. (a) An excise tax is hereby imposed upon the transfer of the estate of each person dying on or after January 1, 1997 who, at the time of death, was a resident. Section 3 shall not apply for the purposes of computing the tax imposed by this section.

 The excise tax shall be computed in accordance with the following rate schedule table:-

 Federal Gross Estate                            Rate of Tax

 Not over $2,000,000                                      None

 Over $2,000,000 but not over $2,500,000    10%

 Over $2,500,000 but not over $3,000,000    11%

 Over $3,000,000 but not over $3,500,000    12%

 Over $3,500,000 but not over $4,000,000    13%

 Over $4,000,000 but not over $4,500,000    14%

 Over $4,500,000 but not over $5,000,000    15%

 Over $5,000,000 but not over $5,500,000    16%

 Over $5,500,000 but not over $6,000,000    17%

 Over $6,000,000 but not over $6,500,000    18%

 Over $6,500,000 but not over $7,000,000    19%

 Over $7,000,000 but not over $7,500,000    20%

 Over $7,500,000 but not over $8,000,000    $21%

 Over $8,000,000 but not over $8,500,000    22%

 Over $8,500,000 but not over $9,000,000    23%

 Over $9,000,000 but not over $9,500,000    24%

 Over $9,500,000 but not over $10,000,00    25%

 Over $10,000,000                                        30%

 (b) An excise tax is hereby imposed upon the transfer of real property situated in the commonwealth and upon tangible personal property having an actual situs in this commonwealth of every person who at the time of their death was not a resident. The amount of this excise tax shall be calculated pursuant to the rate schedule in subsection (a).

 (c) The estates of decedents dying on or after July 1, 2023 shall not be required to pay any excise tax under this section if the value of the federal gross estate is not more than $2,000,000.

 SECTION 4. This act shall take effect for taxable years beginning on or after January 1, 2025.