SENATE DOCKET, NO. 2512        FILED ON: 1/17/2025

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1995

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Ryan C. Fattman

_________________

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 updating the estate tax.

_______________

PETITION OF:

 

Name:

District/Address:

 

Ryan C. Fattman

Worcester and Hampden

 

Bruce E. Tarr

First Essex and Middlesex

2/26/2025


SENATE DOCKET, NO. 2512        FILED ON: 1/17/2025

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1995

By Mr. Fattman, a petition (accompanied by bill, Senate, No. 1995) of Ryan C. Fattman and Bruce E. Tarr for legislation to update the estate tax bring Massachusetts in line with the federal level threshold for taxable estates and credits.  Revenue.

 

The Commonwealth of Massachusetts

 

_______________

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

_______________

 

An Act updating 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. Section 2A of chapter 65C of the General Laws, as appearing in the 2022 Official Edition, is hereby amended by striking out subsection (f), and inserting in place thereof the following:-

"(f) For the estates of decedents dying on or after January 1, 2025, a credit shall be allowed against the tax imposed by subsections (a) and (b) equal to the amount of such tax; provided, however, that the credit shall not exceed the federal level established in 26 USC § 2010 promulgated by the Internal Revenue Service."

SECTION 2. Said section 2A, as so appearing, is hereby amended by striking out subsection (g), and inserting in place thereof the following:-

"(g) The estates of decedents dying on or after January 1, 2025 shall not be required to pay any tax under subsections (a) and (b) if the value of the federal taxable estate is not more than the federal threshold level established in 26 USC Chapter 11 promulgated by the Internal Revenue Service."