An Act aligning the long-term capital gains tax rate with the short-term capital gains tax rate

Summary

SB 1974 proposes to change Massachusetts tax law so that gains from assets held longer than a year are taxed at the same rate as gains from assets held for a year or less. This would affect individuals and businesses that realize capital gains, potentially increasing their tax liability. The change is intended to simplify the tax system and address perceived inequities.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share