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MA Q1: Additional 4% Income tax on incomes > $1million

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> United States > Massachusetts > Public Questions > 2022 Initiatives and Referenda > 2022 Q1: Additional 4% Income tax on incomes > $1million

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

Contributor

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.