what is the massachusetts income tax rate
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Overview Tax Rate on Long-Term Capital Gains Beginning: For tax years beginning on or after January 1, 2003, the Massachusetts tax rate on Schedule D long-term capital gains is the same rate provided for on Form 1, Line 10 or 1-NR/PY, Line 12 income. For 2016, the rate is 5.1%.
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Worcester, Massachusetts Sales Tax Rate The combined sales tax rate for Worcester, MA is 6.25%. This is the total of state, county and city sales tax rates. The Massachusetts state sales tax rate is currently 6.25%. The Worcester County sales tax rate is 0%. Worcester sales tax rate is 0%.
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Sales Tax Calculator of Boston for 2018 The Boston, Massachusetts, general sales tax rate is 6.3%. Depending on the zipcode, the sales tax rate of Boston may vary from 6.25% to 6.3%. Every 2016 combined rates mentioned above are the results of Massachusetts state rate (6.3%). There is no county sale tax for Boston, Massachusetts. There is no city sale tax for Boston.
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Letter Ruling 13-4: Massachusetts Sales/Use Tax on Freight Insurance Charges The Supplier charges Massachusetts sales tax at the current rate of 6.25% on the freight insurance charge. The freight insurance charge and the total sales tax applicable to a transaction are separately stated on all communications with customers.
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View Contact Info Mission Statement. The Assessors are required by Massachusetts law to value all real and personal property within the City. They value every property from single-family residences to the largest commercial and industrial enterprises. FY2018 Tax Rates: Residential: $15.38 Commercial: $29.97 Industrial: $29.97 Personal Prop: $29.97
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- 1 Holyoke's $39.93 rate nudges out perennial No. 1 Everett ($39.45) and aspiring upstart Framingham ($38.99). The state's median commercial rate is $17.30 for every $1,000 in assessed value.  As always, Weston topped all communities with an average single-family tax bill of $18,059.
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Minimum wage in the United States The Massachusetts minimum wage for most employees is $9.00 per hour as of January 1, 2015. It will increase to $10.00 per hour as of January 1, 2016; and $11.00 as of January 1, 2017. The current Federal minimum wage rate is $7.25 per hour as of July 24, 2009. Prior to July 24, 2009, the federal rate was $6.55 per hour.
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MA Minimum Wage is $9.00/hour January 1, 2015 Massachusetts now has the highest enacted state minimum wage set for $11.00 on January 1, 2017. At Massachusetts’ current minimum wage rate of $8.00, this translates to just $16,640 annually for a full-time worker. For those who think only part-time workers are paid minimum wage, think again.
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- The Massachusetts estate tax is a graduated tax with rates ranging from .8% to 16%. A simple way of estimating the tax is to combine these graduated rates into a single effective tax rate. For simplicity, it is assumed that the combined estate tax is paid one half on the first death and one half on the second death.
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Inventory Write-off, Why? An inventory write-off is an accounting term for the formal recognition that a portion of a company's inventory no longer has value. An inventory write-off is an accounting term for the formal recognition that a portion of a company's inventory no longer has value.
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Massachusetts minimum wage increases, state income tax decreases take effect today In 2015, the minimum wage increased to $9 an hour, and in 2017, the minimum wage will increase to $11. According to the left-leaning Massachusetts Budget and Policy Center, the increase in 2016 to $10 an hour will affect 450,000 workers.
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- Maine collects income taxes from its residents utilizing 3 tax brackets. 1  No tax on first $5,199 of taxable income. 2  6.5% on taxable income between $5,200 and $20,899. 3  7.95% on taxable income of $20,900 and more.  No tax on first $10,449 of taxable income.
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Middlesex County, MA Sales Tax Rate Middlesex County, MA Sales Tax Rate. The current total local sales tax rate in Middlesex County, MA is 6.250%. The December 2017 total local sales tax rate was also 6.250%. Sales Tax Breakdown
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- what is the tax rate? The New Hampshire Department of Revenue Administration is charged with the task of computing and establishing the tax rate for each town, city, or unincorporated place, in accordance with RSA 21J:35. The 2017 tax rate has been set at $12.65 per thousand of assessed valuation.
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- Filing Your Massachusetts State Income Tax Return. You are obliged to file a Massachusetts income tax return 2014 if your gross income (income before deductions) is over $8,000. Returns are due April 15th and you can file on paper or electronically. If you prefer to file on paper, forms are available online.
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Hampden County, Massachusetts (MA) 0.06% of residents moved from foreign countries ($391 average AGI)Hampden County:0.06%Massachusetts average:0.06% 1.31% relocated from other counties in Massachusetts ($16,755 average AGI) 1.66% relocated from other states ($22,017 average AGI)Hampden County:1.66%Massachusetts average:2.41%.
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Massachusetts Employee Rights This section will talk about the state’s current minimum wage, hour laws, prevailing wage laws, and more: Massachusetts Minimum Wage Rates: The minimum wage in Massachusetts is currently $8.00 per hour. This wage is 75 cents more than the federal minimum wage ($7.25).
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2018 Boston, Massachusetts Sales Tax Special Sales Tax. Combined Sales Tax. The Boston, Massachusetts sales tax is 6.25% , the same as the Massachusetts state sales tax. While many other states allow counties and other localities to collect a local option sales tax, Massachusetts does not permit local sales taxes to be collected.
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State Minimum Wages | 2018 Minimum Wage by State The Massachusetts minimum wage rate automatically increases to 10 cents above the federal rate if the federal rate equals or becomes higher than the State rate. In no case shall the Massachusetts minimum wage rate be less than $0.50 higher than the effective federal minimum rate.
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- The cost of living in Boston is 46% higher than the national average. The cost of housing in Boston is 94% higher than the national average. Massachusetts general sales tax is 23% higher than the national average. Massachusetts state income tax is 132% higher than the national average.
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Federal Income Tax Rates for the Year 2014 Personal Tax Rates and Brackets for 2014. The U.S. federal government taxes personal income using a graduated scale. Tax rates began at 10 percent and gradually increased to 15 percent, then 25 percent, 28 percent, 33 percent, 35 percent and finally a top rate of 39.6 percent in 2014—the same rates in effect as of 2016.
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What is the sales tax in Massachusetts for used cars? Rating Newest Oldest. Best Answer: The use tax on used vehicles is the same as the sales tax on new vehicles, 6.25%. If you buy from a MA licensed dealer the dealer will collect the tax.
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MA Minimum Wage is $9.00/hour January 1, 2015 The law also increases the minimum wage for agricultural employees in Massachusetts to $8.00 per hour, effective January 1, 2015. For the first time in decades, the state’s minimum wage for agricultural workers will be higher than the federal government’s agricultural wage.
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Boston, MA Unemployment Rate: Boston, MA Unemployment Rate: Boston, MA Unemployment Rate is at 4.20%, compared to 3.60% last month and 5.10% last year. This is lower than the long term average of 5.60%. Boston, MA Unemployment Rate Chart. Boston, MA Unemployment Rate Historical Data. View and export this data going back to 1990.
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State taxes: Connecticut Personal income tax. On July 1, 2011, tax law changes increased the Connecticut income tax brackets from 3 (3%, 5% and 6.5%) to 6 tax brackets. For the 2015 tax year, the Nutmeg State has 7 tax rates that apply to the following income brackets for single filers or married couples filing separate returns.
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State taxes: Minnesota Minnesota has 4 state income tax rates: 5.35%, 7.05%, 7.85% and 9.85%. More on Minnesota taxes can be found in the tabbed pages below. Minnesota collects income taxes from its residents utilizing 4 tax brackets. For single taxpayers: 5.35% on the first $25,070 of taxable income.