Origin: For tax year 2001, a deduction was allowed for charitable contributions in determining Part B taxable income. The deduction amount was equal to the taxpayer's charitable contributions for the year, as defined under the Federal Internal Revenue Code, with certain adjustments and without regard to whether the taxpayer elected to itemize deductions on his or her federal income tax return. Chapter 186 of the Acts of 2002 suspended this deduction until the year following the tax year the Part B rate declined to 5.00%. The Part B rate rolled back to 5.00% for tax year 2020, however the start date was further delayed by statute until tax year 2023. The tax loss in FY23 results from filers adjusting their estimated payment during that fiscal year.
Origin: IRC § 170; M.G.L. c. 62, §3B (a)(13)
Personal Income Tax
Deductions from Adjusted Gross Income
1.415
Charitable Contributions Tax Deduction
For tax year 2001, a deduction was allowed for charitable contributions in determining Part B taxable income. The deduction amount was equal to the taxpayer's charitable contributions for the year, as defined under the Federal Internal Revenue Code, with certain adjustments and without regard to whether the taxpayer elected to itemize deductions on his or her federal income tax return. <a href="https://malegislature.gov/Laws/SessionLaws/Acts/2002/Chapter186" target="_blank">Chapter 186 of the Acts of 2002</a> suspended this deduction until the year following the tax year the Part B rate declined to 5.00%. The Part B rate rolled back to 5.00% for tax year 2020, however the start date was further delayed by statute until tax year 2023. The tax loss in FY23 results from filers adjusting their estimated payment during that fiscal year.
<a href="https://www.law.cornell.edu/uscode/text/26/170" target="_blank">IRC § 170</a>; M.G.L. <a href="https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter62/Section3" target="_blank">c. 62, §3B (a)(13)</a>
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64.0
321.3
328.9
