Budget Amendment ID: FY2027-S4-781

OTH 781

Income Tax Reduction from 5 percent to 4.5 percent

Mr. Tarr moved that the proposed new text be amended by inserting after section_ the following section:-

"SECTION_. Section 4 of chapter 62 of the General Laws as appearing in the 2024 Official Edition is hereby amended by striking out  subparagraph (b) and inserting in place thereof the following subparagraph —

(b) Part B taxable income shall be taxed at the rate of 4.75 per cent for the tax year beginning on January 1, 2027, 4.5 per cent for the tax year beginning on January 1, 2028."