Princeton's WordNet(0.00 / 0 votes)Rate this definition: reference point, point of reference, reference(noun) an indicator that orients you generally. it is used as a reference for comparing the heating and the electrical energy involved.
One of the first deductions from gross income is the appropriate personal exemption for an individual and his spouse and dependents. In addition to the personal exemption, taxpayers can take further deductions, either in the form of a standard deduction or by itemizing deductions.
Even if they calculate a zero tax, the requirement to file still exists. Part-year residents file Massachusetts Form 1 NR/PY-Nonresident/Part-Year Resident Individual Income Tax Return.Definitions of Gross Income: 1  Massachusetts gross income = federal gross income, with certain modifications.very individual inhabitant who receives or accrues Massachusetts gross income in excess of $8,000 must make a return of such income. Full year residents who receive or accrue Massachusetts gross income in excess of $8,000 during the taxable year are required to file a Massachusetts income tax return.