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Massachusetts Department Of Revenue, Massachusetts Tax

Massachusetts Business Corporate Tax, Massachusetts Personal Income Tax, Massachusetts Sales Tax Rates

What is the Massachusetts corporate net income tax rate?

9.5% with a minimum tax payment of $456.

ALSO, there is a property tax of $2.60 for every $1000 of assets your business owns that is located in the State.

What are the Massachusetts personal net income tax rates?

5.3% of regular income, distributions, dividends, and long term capital gains.

Short term capital gains are taxed at 12%. Short term capital gains are effective after holding the asset for more than 1 year per Massachusetts code 830 CMR 62.4.1.

What is the average Massachusetts sales tax rate?


Are there standard deductions?

Single:  none
Joint:  none

Are there personal exemptions?

Single:  $4,400
Dependents:  $1,000

What forms do you file for your Massachusetts taxes?

Massachusetts C corporations:   Form 355
S corporations:  Form 355S
Partnerships:  Form 3 Schedule 3, K-1
Individual (Massachusetts LLC members):  Form 1, and form 1-NR/PY for non-residents
Massachusetts Nonprofit Charities: Form 3ABC

Estimated tax payments?

Form 355-ES for corporations with more than $1000 tax liability. Personal filers file 1-ES. Massachusetts follows the IRS standards for estimated payments. If you will owe $400 or more in tax for the current year, you are required to make 90% of the tax due, over quarterly payments. It has to be at least 100% of the previous year, even if you think you won’t make as much in the current year.

Massachusetts Department of Revenue:

Massachusetts Department of Revenue
P.O. Box 7010
Boston , MA 02204
Telephone: 800-392-6089 or 617-887-6436
Website: Massachusetts SOC

If you use Northwest Registered Agent as your Massachusetts registered agent, you’ll have an online account to track your company in, receive notification reminders to file your annual reports on time, annual tax reminders, and new state information reminders. All for a low annual flat rate fee of $125 a year. We also help incorporate new Massachusetts businesses for only $100.

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