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Category: Massachusetts
29 Articles
Orange arrow Massachusetts Senior Circuit Breaker Tax Credit

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  What Is It?For tax years beginning on or after January 1, 2001, senior citizens in Massachusetts may be eligible to claim a refundable credit on their state income taxes for the real estate taxes they paid on the Massachusetts residential property they own or rent and which they occupy as their pri...
Posted in: STATES, Massachusetts

Orange arrow What is Included in Massachusetts Other Interest and Dividends Calculations?

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  Interest from obligations of other states and their political subdivisions (including your share, if any, from a partnership, an S corporation and agrantor-type trust or non-Massachusetts trust). Do not include exempt interest already included in Schedule B, line 1; Taxable distributions from Mass...
Posted in: STATES, Massachusetts

Orange arrow What is Included in Massachusetts Excludable Interest and Dividends Calculations?

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  Interest on U.S. debt obligations. Enter interest received on U.S. Treasury bills, notes and bonds, savings bonds or other obligations of the UnitedStates, including its territories or dependencies. Such interest is tax-exempt in Massachusetts. For further information concerning exempt obligationso...
Posted in: STATES, Massachusetts

Orange arrow What Are my Massachusetts Payment Options?

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  You can use OLTPRO to set up a direct debit for the Massachusetts return. For other options the taxpayer can go to mass. gov/dor/payonline for online payment options. If you need to mail your payment, make your check or money order payable to the Commonwealth of Massachu setts and write your Socia...
Posted in: STATES, Massachusetts

Orange arrow What is the Massachusetts Qualified Contributory Pension Deduction?

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  Deductible Amount of Qualified Contributory Pension Income from Another State or Political Subdivision Massachusetts allows a deduction for contributory pension income received from another state or one of its political subdivisions which does not tax such income from Massachusetts or its politica...
Posted in: STATES, Massachusetts

Orange arrow Who Is Eligible to Exclude Income Under MGL Ch. 41, Sec 111F or US Tax Treaty?

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  Massachusetts Amounts Excludible Under MGL Ch. 41, Sec 111F or US Tax Treaty Massachusetts allows an exclusion from income of amounts received by a firefighter or police officer incapacitated in the line of duty, per MGL Ch. 41, sec. 111F, and an exclusion from income of amounts received by qualif...
Posted in: STATES, Massachusetts

Orange arrow What is Included in Massachusetts Other Credits?

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  Lead Paint If you incurred expenses for covering or removing lead paint on residential premises in Massachusetts, you may claim a credit for expenses up to $1,500 for each residential unit. The basic rules are explained on Massachusetts Sched ule LP, Credit for Removing or Covering Lead Paint on R...
Posted in: STATES, Massachusetts

Orange arrow Massachusetts Underpayment Penalty

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  Who should use this form. If you are an individual, or a taxpayer taxed as an individual, you should use Form M-2210 to determine if your estimated and/or withholding tax payments were sufficient. If they were not, an underpayment penalty will be imposed, unless you qualify for one of the excepti...
Posted in: STATES, Massachusetts

Orange arrow Should I Use the Massachusetts Nonresident Apportionment Worksheet?

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  Who Cannot Apportion Income? If you know the actual amount of your Massachusetts source income, do not apportion. Report your income taxable in Massachusetts on your Massachusetts return. Examples of nonresidents who cannot apportion include: an employee whose actual Massachusetts income is sho...
Posted in: STATES, Massachusetts

Orange arrow Massachusetts Nonresident Apportionment Methods

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  Apportionment Methods Employees Compensated on an Hourly, Daily, Weekly or Monthly Basis:fraction, the numerator of which is the number of days spent working in Massachusetts and the denominator of which is the total working days. Total working days does not include weekends, holidays, sick days...
Posted in: STATES, Massachusetts

Orange arrow Massachusetts Income or Loss From Grantor-Type Trusts and Non-Massachusetts Estates and Trusts

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  Personal income taxpayers who have rental, royalty and REMIC income or loss and farm rental income and expenses; income or loss from partnerships and S corporations; and income or loss from grantor-type trusts and non-Massachusetts estates or trusts are required to report income or loss from these ...
Posted in: STATES, Massachusetts

Orange arrow Who is Eligible to Exclude Income Under MGL Ch. 41, Sec 111F or US Tax Treaty?

1188 views
  Massachusetts Amounts Excludible Under MGL Ch. 41, Sec 111F or US Tax Treaty Massachusetts allows an exclusion from income of amounts received by a firefighter or police officer incapacitated in the line of duty, per MGL Ch. 41, sec. 111F, and an exclusion from income of amounts received by qualif...
Posted in: STATES, Massachusetts

Orange arrow What is the Massachusetts Qualified Contributory Pension Deduction?

752 views
  Deductible Amount of Qualified Contributory Pension Income from Another State or Political Subdivision Massachusetts allows a deduction for contributory pension income received from another state or one of its political subdivisions which does not tax such income from Massachusetts or its politica...
Posted in: STATES, Massachusetts

Orange arrow What is Included in Massachusetts Other Credits?

605 views
  Lead Paint If you incurred expenses for covering or removing lead paint on residential premises in Massachusetts, you may claim a credit for expenses up to $1,500 for each residential unit. The basic rules are explained on Massachusetts Sched ule LP, Credit for Removing or Covering Lead Paint on R...
Posted in: STATES, Massachusetts

Orange arrow Massachusetts Underpayment Penalty

755 views
  You will generally be subject to this addition to tax if you did not have withholding and/or estimated payments equal to 80% of the total tax liability required to be paid and your tax due after credits and withholding is greater than $400. The 80% requirement is reduced to 66 2/3% for individuals ...
Posted in: STATES, Massachusetts


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