Amendment #406 to H4000

An Act relative to removing the marriage penalty for millionaires tax

Mr. Lombardo of Billerica moves to amend the bill by inserting at the end thereof the following outside section::-

SECTION XXA. Section 4(d) of chapter 62 of the General Laws, as appearing in section 28 of chapter 50 of the acts of 2023, is hereby amended by striking out the third and fourth sentences and inserting in place thereof the following:

For purposes of determining the applicability of the additional 4 per cent tax under this subsection, a married couple may elect to file jointly or separately on their Massachusetts return, regardless of their federal filing status. The $1,000,000 threshold shall apply to each individual filing a separate return.

SECTION XXB. Sections XXA shall take effect for taxable years beginning on January 1, 2025.

Additional co-sponsor(s) added to Amendment #406 to H4000

An Act relative to removing the marriage penalty for millionaires tax