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The College must withhold Massachusetts income tax at a current rate of 5.00% if gross payments to all performers and performing entities exceed $10,000 for a particular performance, event program or series and the payment to a single performer or performing entity exceeds $5,000 for the calendar year.
Millionaires Tax defined Early in November 2022, the Millionaires Tax legislation was approved by Massachusetts voters. Starting in 2023, Massachusetts residents with incomes over $1 million will be taxed an additional 4% on the portion over the $1 million threshold.
What Is the 4% Surtax? Starting with tax year 2023, personal income taxpayers must pay an additional 4% (4% surtax) on taxable income over $1,000,000, increased annually for inflation (surtax threshold). See M.G.L. c.
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The state income tax is charged at a flat rate of 5%, and the sales tax is charged at a rate of 6.25%.
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Massachusetts uses a flat tax of 5.00% regardless of an employees level of income, with the exception of those whose annual taxable income is greater than $1 million.

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