Tax Type

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 2023 Personal Income Tax (in Millions)

1.000
Exclusions from Gross Income

Exclusions from Gross Income

1.000

4,976.4

4,910.2

5,572.8

5,783.4

5,833.3

1.100
Deferrals of Gross Income

Deferrals of Gross Income

1.100

2,295.5

2,634.3

2,954.8

3,351.1

3,754.3

1.200
Deductions from Gross Income

Deductions from Gross Income

1.200

2.3

2.4

2.5

1.300
Accelerated Deductions from Gross Income

Accelerated Deductions from Gross Income

1.300

129.2

122.0

105.4

94.4

96.3

1.400
Deductions from Adjusted Gross Income

Deductions from Adjusted Gross Income

1.400

938.4

959.5

985.1

866.5

964.3

1.500
Preferential Rate of Taxation

Preferential Rate of Taxation

1.500

9.2

9.7

14.2

13.3

13.1

1.600
Credits Against Tax

Credits Against Tax

1.600

315.7

391.0

400.4

636.9

590.7

Total

8,666.7

9,029.0

10,035.1

10,748.0

11,254.5

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