Rob retweetledi
A list of taxes in MA:
Base Rate: A flat 5.00% rate is applied to most personal income, including wages, salaries, and long-term capital gains.
Surtax: There is an additional 4.00% surtax applied to income exceeding $1,083,150
Short-term Capital Gains: Taxed at 8.5%.
General Sales Tax: A 6.25% statewide tax applies to most tangible personal property.
Meals Tax: Prepared foods and restaurant meals are taxed at 6.25% with a local option to add up to an additional 0.75% (yielding a maximum of 7.00%).
Paid Family and Medical Leave (PFML): The total contribution is 0.88% of eligible wages.
Gas Tax: The Massachusetts state gas tax is 24 cents per gallon on both gasoline and diesel.
And on your electric bill alone:
- Energy Efficiency Charge: Funds the popular Mass Save program, which incentivizes energy-saving home upgrades.
- Net Metering Recovery Surcharge (NMRS): Recovers the costs and credits applied to customers who generate excess solar power and feed it back to the grid.
- Renewable Energy Charge: A legislatively mandated fee (e.g., $0.0005 per kWh) used to support clean energy technology development via the Massachusetts Clean Energy Center.
- Distribution Solar Charge / Distributed Solar Charge: Recovers the costs of integrating solar projects into the local distribution grid.
- Long-Term Renewables Contract Adjustment: Pays for the power utilities are legally required to buy from long-term renewable energy suppliers.
- Electric Vehicle (EV) Program Charge: Recovers costs associated with building out EV charging infrastructure and grid enhancements to support electric vehicles.
- Revenue Decoupling Charge: Adjusts delivery rates to ensure the utility company collects its allowed distribution revenue, regardless of how much electricity customers actually use.
Bob@bobbiibean
Massachusetts collected $2.101 billion MORE in tax revenue than expected for Fiscal Year 2025…… so explain the deficit Ed?
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