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Volume 1
- Budget Message
- Issues in Brief
- Budget Recommendations
- Local Aid to Cities and Towns
- Capital Budget and Debt
Volume 2
- Budget Development
- Financial Statements
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- Operating Transfers
- Local Aid - Section 3
- Outside Sections
- Tax Expenditure Budget
- Appendix A
- Glossary
1.411 -Rent Deduction
| Item | Description | FY2011 | FY2012 | FY2013 |
|---|---|---|---|---|
| 1.411 | Rent Deduction
Renters are able to deduct against Part B income one-half of the rent paid for a principal residence located in Massachusetts up to a maximum deduction of $3,000 per year. This maximum was last raised in tax year 2001. Origin: M.G.L. c. 62, S. 3B(a)(9) Estimate: $116.1 |
113.6 | 114.8 | 116.1 |
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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