To increase tax revenues and reduce the current budget deficit, the Massachusetts legislature has enacted legislation: Act Enhancing State Revenues, which vastly changes Massachusetts estate tax laws.
... dividends, gains from the sale or exchange of capital assets held for one year or less (short-term capital gains). There is no inheritance tax and limited Massachusetts estate tax related to federal ...
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In addition, the threshold for Massachusetts Estate Tax has been lowered to $850,000 in 2004. It will increase to $950,000 in 2005 and in 2006 it will increase to $1,000,000 where it will remain.
Massachusetts has enacted new estate tax legislation for estates of individuals who die on or after January 1, 2003. Our Massachusetts estate planning attorneys and litigation attorneys are available ...