Massachusetts ‘Millionaires’ Tax Applies to Sudden Wealth Events
Darrow Wealth Management
NOVEMBER 17, 2022
The surtax will increase the Massachusetts tax liability by $68,000 on the sale of their home. A tech employee at a startup has stock options. Further, both examples ignore other sources of income, such as wages, pre-tax retirement account distributions, dividends, etc., that could increase the tax due from the surtax.
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