Interest earned on Massachusetts bonds is exempt. The exclusion applies to bonds of Massachusetts agencies, and local subdivisions (cities and towns) as well.
Origin: M.G.L. c. 62, § 2 (a)(1)(A)
Tax Type
Tax Expenditure
Item Number
Item Name
Description
Origin
FY2018
FY2019
FY2020
FY2021
FY2022
Personal Income Tax
Exclusions from Gross Income
1.023
Exemption of Interest from Massachusetts Obligations
Interest earned on Massachusetts bonds is exempt. The exclusion applies to bonds of Massachusetts agencies, and local subdivisions (cities and towns) as well.
<a href="https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter62/Section2" target="_blank">M.G.L. c. 62, § 2 (a)(1)(A)</a>
50.9
51.3
51.5
51.9
52.5
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