The State Department of Revenue (DOR) recently certified that there is insufficient tax revenue growth under the terms of a 2002 state law that would trigger a 0.05 percentage point cut in the Part B indivdual income tax rate beginning in 2013. As part of the legal process determined by the Legislature, an automatic tax cut would go into effect if the following thresholds in revenue growth were exceeded:
- Inflation-adjusted baseline revenue growth for the previous fiscal year surpassed 2.5% and,
- There was positive inflation-adjusted baseline revenue growth in each of the consecutive three-month periods starting in August and ending in November in the current calendar year compared to the same consecutive three-month periods in the previous calendar year.
DOR certified on September 6th that FY2012 inflation-adjusted baseline revenue increased 2.77% over the previous fiscal year. The agency also certified that revenue growth was 4.12% for the first growth period and 1.88% for the second growth period. However, revenue growth was negative (-1.29%) during the third period so the 5.25% Part B individual income tax rate will remain the same for 2013.
Top priority: protecting the taxpayer and the Commonwealth’s revenue posted on Oct 8
With identity theft on the rise, the Massachusetts Department of Revenue is taking new steps to combat the problem and protect taxpayers. In some cases, this means asking taxpayers to take a quiz before getting their state refund check. DOR is teaming up with LexisNexis …Continue Reading Top priority: protecting the taxpayer and the Commonwealth’s revenue
Thinking about the next step in your career? posted on Oct 3
Dust off that resume! The Department of Revenue is holding a Diversity Career Fair and your next job could be right around the corner. DOR has a number of exciting employment opportunities now available and will have more openings throughout the year. Whether you’re looking …Continue Reading Thinking about the next step in your career?
Mission Accomplished posted on Sep 15
They are two dogs with a very unique trick. Meet Fillmore and Max, a canine pair trained specifically to sniff out tobacco. The Massachusetts Department of Revenue recently teamed up with Altria representatives and their tobacco sniffing dogs for a two-day tobacco drive in an …Continue Reading Mission Accomplished