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MA Q1: Additional 4% Income tax on incomes > $1million
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| Parents |
> United States > Massachusetts > Public Questions > 2022 Initiatives and Referenda > 2022 Q1: Additional 4% Income tax on incomes > $1million
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| Office | Referendum |
| Honorific | Referendum - Abbr: |
| Type | Referendum |
| Filing Deadline | 00, 0000 - 12:00pm Central |
| Polls Open | November 08, 2022 - 06:00am Central |
| Polls Close | November 08, 2022 - 06:00pm Central |
| Term Start | January 01, 2023 - 12:00pm |
| Term End | January 01, 3999 - 12:00pm |
| Invalid Votes |
Under Votes: 86,160
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| Contributor | RP |
| Last Modified | RBH December 02, 2022 05:41pm |
| Data Sources | [Link] |
| Description |
There will be a proposed constitutional amendment on the November ballot regarding income taxes. If passed, the amendment would establish an additional four percent state income tax on that portion of annual taxable income in excess of $1 million. This income level would be adjusted annually, by the same method used for federal income-tax brackets, to reflect increases in the cost of living. Revenues from this tax would be used, subject to appropriation by the state Legislature, for public education, public colleges and universities; and for the repair and maintenance of roads, bridges, and public transportation. The proposed amendment would apply to tax years beginning on or after January 1, 2023.
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