No More Taxachusetts?
I have a few clients in Massachusetts. We joke that it's really "Taxachusetts." Massachusetts' state income tax is 5.3%, and is really more of a gross receipts income tax; few deductions are allowed. But that may change.
Citizens in Massachusetts have collected over 66,000 signatures on petitions—the first step in a drive to eliminate the state's income tax. While there are more steps involved in the process (including collecting a second set of 11,000 signatures early next year), it's likely that residents of the Commonwealth will have a chance to vote themselves out of the state's income tax.
It may be a very interesting election cycle in Massachusetts. Although, as the link notes, expect lots of politicians to say, "The sky is falling."
Citizens in Massachusetts have collected over 66,000 signatures on petitions—the first step in a drive to eliminate the state's income tax. While there are more steps involved in the process (including collecting a second set of 11,000 signatures early next year), it's likely that residents of the Commonwealth will have a chance to vote themselves out of the state's income tax.
It may be a very interesting election cycle in Massachusetts. Although, as the link notes, expect lots of politicians to say, "The sky is falling."
Posted by Russ on
Sunday December 2, 2007 at 8:02pm