Amendment #830 to H5007

Estate Tax Table

Mr. Dooley of Norfolk moves to amend the bill Moves to amend the bill by adding the following section:

“SECTION XX. Chapter 65C of the General Laws is hereby amended by striking out the table in Section 2(a) between lines 4 and 5 after the word “Massachusetts”, as appearing in the 2020 Official Addition, and inserting in place thereof the following table:

|If the Massachusetts taxable estate is: |   The Massachusetts estate tax shall be:

|           Over           |    But not Over        |

|$0                  |     $5,000,000          |  10% of the taxable estate

|$5,000,000    |     $10,000,000        |  $500,000 plus 11% of the excess over $5,000000

|$10,000,000  |     $20,000,000        |  $1,050,000 plus 12% of the excess over $10,000,000

|$20,000,000  |              n/a              |  $2,250,000 plus 13% of the excess over $20,000,000”