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Tax Type

Personal Income Tax

Although income from professions, trades or employment was taxed throughout the nineteenth century under the local property tax, it was not until 1916, under the authority of Article 44 of the Amendments to the Massachusetts Constitution, that the Massachusetts personal income tax was enacted as a separate tax. Because Article 44 requires that …Read more 

Fiscal Year 2021 Personal Income Tax (in Millions)

Tax Expenditure
FY2017
FY2018
FY2019
FY2020
FY2021
1.000
Exclusions from Gross Income
4,072.1
4,550.9
5,049.0
5,111.7
5,233.3
1.100
Deferrals of Gross Income
1,757.0
2,105.0
2,290.0
2,553.3
2,755.8
1.200
Deductions from Gross Income
0.3
0.3
0.3
0.3
0.3
1.300
Accelerated Deductions from Gross Income
215.6
233.8
247.8
244.6
242.2
1.400
Deductions from Adjusted Gross Income
896.7
929.0
957.2
980.4
1,067.1
1.500
Preferential Rate of Taxation
4.0
5.7
7.5
9.5
11.7
1.600
Credits Against Tax
327.7
330.9
343.1
422.3
438.7
Total
7,273.4
8,155.6
8,894.9
9,322.1
9,749.1
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