Beginning January 1, 2014, the 5.25 percent tax rate on most classes of taxable income will drop to 5.20 percent. The Department of Revenue has certified that baseline revenues this year met growth thresholds set by statute which automatically triggered the .05 percent decrease. DOR will continue to certify any revenue growth every year until the income tax rate reaches 5 percent. You can find the revised withholding tables for the new income tax rate by clicking here.
Friday, December 20, 2013
MA DOR Issues New Withholding Tables for Tax Year 2014
Beginning January 1, 2014, the 5.25 percent tax rate on most classes of taxable income will drop to 5.20 percent. The Department of Revenue has certified that baseline revenues this year met growth thresholds set by statute which automatically triggered the .05 percent decrease. DOR will continue to certify any revenue growth every year until the income tax rate reaches 5 percent. You can find the revised withholding tables for the new income tax rate by clicking here.
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