| Calendar Year | Massachusetts Wages and Salaries** (in Thousands) | Wages and Salaries Yearly Growth Rate† |
|---|---|---|
| 2021 | $312,471,740 | |
| 2022 | $333,155,998 | 1.0661956 |
| 2023 | $344,029,483 | 1.0326378 |
| 2024 | $362,741,160 | 1.0543897 |
| Sum of 2021–2024 Yearly Growth Rates | 3.1532231 | |
| Allowable State Tax Growth Factor for Fiscal Year 2025 (3.1532231/3) | 1.0510744 | |
* Chapter 62F of the General Laws requires that, in calculating the allowable state tax growth factor for any fiscal year, the same total for Massachusetts’s wages and salaries for a calendar year utilized in prior calculations involving that calendar year shall be utilized in subsequent calculations involving that calendar year, notwithstanding periodic adjustments by the Bureau of Economic Analysis. The fiscal year 2025 allowable state tax growth factor decreased 0.0210763 from the prior year’s factor of 1.0721507.
** Source: US Department of Commerce, Bureau of Economic Analysis, Regional Income Division, Washington, D.C. (pursuant to Section 2 of Chapter 62F of the Massachusetts General Laws).
† Wage and salary yearly growth rate is calculated by dividing each calendar year’s wages and salaries by those of the previous calendar year.
| Date published: | September 15, 2025 |
|---|