Governor Deval Patrick's Budget Recommendation - House 1 Fiscal Year 2012

Governor's Budget Recommendation FY 2012

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1.401 -Deduction for Employee Social Security and Railroad Retirement Payments


Item DescriptionFY2010 FY2011 FY2012
1.401 Deduction for Employee Social Security and Railroad Retirement Payments
Taxes paid by employees to fund the Social Security and Railroad Retirement systems are deductible against "earned" income up to a maximum of $2,000 per individual.

Comment: The estimate also covers item 1.402 below.

Origin:  M.G.L. c. 62, S. 3B(a)(3)
Estimate:  $303.7
301.5 302.6 303.7

Key:

ORIGIN  
IRCFederal 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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