Origin: Due to Massachusetts' reliance on the Internal Revenue Code (Code) for purposes of determining income, eligible contributions to, earnings in, and qualified distributions from health savings accounts (HSAs) are not subject to the personal income tax.
Origin: M.G.L. c. 62, §§ 1(c), 1(d), and 2(d)(1); IRC § 223
Tax Type
Tax Expenditure
Item Number
Item Name
Description
Origin
FY2023
FY2024
FY2025
FY2026
FY2027
Personal Income Tax
Exclusions from Gross Income
1.031
Exemption of Health Savings Accounts Earnings & Distributions
Due to Massachusetts' reliance on the Internal Revenue Code (Code) for purposes of determining income, eligible contributions to, earnings in, and qualified distributions from health savings accounts (HSAs) are not subject to the personal income tax.
M.G.L. c. 62, <a href="https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter62/Section1" target="_blank">§§ 1(c), 1(d)</a>, and <a href="https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter62/Section2" target="_blank">2(d)(1)</a>; <a href="https://www.law.cornell.edu/uscode/text/26/223" target="_blank">IRC § 223</a>
1.0
1.3
2.9
3.7
4.3
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