Origin: Due to Massachusetts' reliance on the Internal Revenue Code ("Code") for purposes of determining income, employer payments of employees' group-term life insurance premiums for coverage up to $50,000 per employee are not included in income by the employee.
Origin: IRC § 79
Tax Type
Tax Expenditure
Item Number
Item Name
Description
Origin
FY2023
FY2024
FY2025
FY2026
FY2027
Personal Income Tax
Exclusions from Gross Income
1.002
Exemption of Premiums on Group-Term Life Insurance
Due to Massachusetts' reliance on the Internal Revenue Code ("Code") for purposes of determining income, employer payments of employees' group-term life insurance premiums for coverage up to $50,000 per employee are not included in income by the employee.
<a href="https://www.law.cornell.edu/uscode/text/26/79" target="_blank">IRC § 79</a>
25.6
28.6
37.1
39.4
41.9
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