2 ms·
Massachusetts requires estates worth $1M+ to report for estate taxes. There's something like a $60k exemption and then it's a progressive rate system. Based on
by vel0city 2y ago
Massachusetts requires estates worth $1M+ to report for estate taxes. There's something like a $60k exemption and then it's a progressive rate system.
Based on what I'm seeing, a $2M Massachusetts estate would have $50k of estate taxes to pay, a 2.5% effective tax rate.
In the end though only 12 states have an estate tax, and Massachusetts has the lowest threshold and highest rates.