1.009 -Exemption of Social Security Benefits
Item | Description | FY2010 | FY2011 | FY2012 |
---|---|---|---|---|
1.009 | Exemption of Social Security Benefits
Social Security benefits paid to people age 65 or older and their dependents, to persons under 65 who are survivors of deceased workers, and to disabled workers and their dependents are not taxed. Massachusetts has not adopted Internal Revenue Code section 86, which taxes a portion of these payments where a taxpayer's income is above a certain level. Origin: M.G.L. c. 62, S. 2 (a)(2)(H) Estimate: $831.6 |
759.2 | 794.6 | 831.6 |
Key:
ORIGIN | |
IRC | Federal Internal Revenue Code (26 U.S.C.) |
---|---|
U.S.C | United States Code |
M.G.L. | Massachusetts General Laws |
Rev. Rul.; C.B. | Revenue Ruling; Cumulative Bulletin of the U.S. Treasury |
ESTIMATES | All estimates are in $ millions. |
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