The Department of Revenue has approved a 2011 penalty schedule for those who are able to afford the purchase of health insurance but fail to do so. The Massachusetts Health Care Reform Act of 2006 requires most adults 18 and over with access to affordable insurance to …Continue Reading Individual mandate penalties set for 2011
On Nov. 2, voters in Massachusetts cast a majority of ballots in favor of restoring the sales tax exemption for beer, wine and alcohol. Thus, on Jan. 1, 2011, the 6.25 percent sales tax on those items that has been in effect since August 1, 2009, …Continue Reading Repeal of sales tax on alcohol takes effect Jan. 1, 2011
The Department of Revenue has posted the proposed 2011 penalty schedule for those who are able to afford the purchase of health insurance but fail to do so. The Massachusetts Health Care Reform Act of 2006 requires most adults 18 and over with access to affordable insurance to obtain it, …Continue Reading Individual mandate penalties proposed for tax year 2011
Posted by: Robert Bliss, Director of Communication, Department of Revenue The new federal health care law and the previously enacted Massachusetts health care law have come under media review the past few days. Both laws have as a centerpiece an individual mandate requirement to purchase health insurance if it is deemed …Continue Reading MA health care law working; constitutionality not in doubt
The Legislature's annual Consensus Revenue Hearing today received DOR's official revenue estimates for FY11 and FY12. DOR Commissioner Navjeet K. Bal forecast an above benchmark collection for FY11 of between $19.589 billion and $19.681 billion, both well above the current estimate of $19.078 billion. For the …Continue Reading Revenue projections up, but shortfall still coming in FY12
The growth of electronic tax filing has prompted DOR to make changes in the booklet of forms and schedules that are mailed to taxpayers. A minority of taxpayers, less than 300,000 out of 3.4 million tax filers, submitted state income tax returns on paper last year using …Continue Reading Slimmer state income tax booklets coming for tax year 2010
The Municipal Data Bank maintained by DOR's Division of Local Services has created a new Local Options page that, for the first time, includes current data on revenue returned to cities and towns that have adopted the local option rooms tax. This new local option rooms tax revenue data covers …Continue Reading More data on local option rooms tax now available
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