|Referenced Sources:||Massachusetts General Laws|
This Technical Information Release (TIR) explains provisions in the Fiscal Year 2016 budget (the Acts) relating to the personal income tax, G.L. c. 62; the corporate excise, G.L. c. 63; and tax administration, G.L. c. 62C.
The tax changes discussed in this TIR include:
- Earned Income Tax Credit increase
- Deferral of corporate excise FAS 109 deduction
- Creation of a multi-agency illegal tobacco task force
- Suspension of lottery licenses tied to revocation of cigar and tobacco licenses
- Tax amnesty program for non-filers