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us-ma/statute/62/4/block-1 — Section 4 · Axiom

Section 4

Official source

General Laws

Part I ADMINISTRATION OF THE GOVERNMENT

Title IX TAXATION

Chapter 62 TAXATION OF INCOMES

Section 4 Rates of tax for residents, non-residents and corporate trusts

in view

Whole section

▸rulespec code

Shown source

statutes/62/4.yaml

Displaying the canonical repository encoding.

This encoding covers the parent provision us-ma/statute/62/4; no dedicated encoding exists for this exact provision yet.

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Rules

part_a_capital_gains_tax_rate

Parameter

source: 4(a)(1)

- name: part_a_capital_gains_tax_rate
  kind: parameter
  dtype: Rate
  source: 4(a)(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: >-
              Part A taxable income consisting of capital gains shall be taxed at the rate of 12 per
              cent
  versions:
    - effective_from: '2023-01-01'
      formula: '0.12'

part_a_short_term_capital_gains_holding_period_limit_years

Parameter

source: 4(a)(1)

- name: part_a_short_term_capital_gains_holding_period_limit_years
  kind: parameter
  dtype: Count
  source: 4(a)(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: capital assets held for 1 year or less
  versions:
    - effective_from: '2023-01-01'
      formula: '1'

part_a_short_term_capital_gains_tax_rate

Parameter

source: 4(a)(1)

- name: part_a_short_term_capital_gains_tax_rate
  kind: parameter
  dtype: Rate
  source: 4(a)(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: shall be taxed at the rate of 8.5 per cent
  versions:
    - effective_from: '2023-01-01'
      formula: '0.085'

part_a_interest_and_dividends_stated_tax_rate

Parameter

source: 4(a)(2)

- name: part_a_interest_and_dividends_stated_tax_rate
  kind: parameter
  dtype: Rate
  source: 4(a)(2)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: interest and dividends shall be taxed at the rate of 5.95 per cent
  versions:
    - effective_from: '2002-01-01'
      formula: '0.0595'

part_b_initial_tax_rate

Parameter

source: 4(b)

- name: part_b_initial_tax_rate
  kind: parameter
  dtype: Rate
  source: 4(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: Part B taxable income shall be taxed at the rate of 5.3 per cent
  versions:
    - effective_from: '2002-01-01'
      formula: '0.053'

part_b_minimum_tax_rate

Parameter

source: 4(b)

- name: part_b_minimum_tax_rate
  kind: parameter
  dtype: Rate
  source: 4(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: Part B taxable income shall be taxed at a rate of not less than 5 per cent.
  versions:
    - effective_from: '2002-01-01'
      formula: '0.05'

part_b_rate_reduction_increment

Parameter

source: 4(b)

- name: part_b_rate_reduction_increment
  kind: parameter
  dtype: Rate
  source: 4(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: the rate in effect for the prior taxable year minus.05 per cent
  versions:
    - effective_from: '2002-01-01'
      formula: '0.0005'

part_b_baseline_tax_growth_threshold

Parameter

source: 4(b)

- name: part_b_baseline_tax_growth_threshold
  kind: parameter
  dtype: Rate
  source: 4(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: inflation adjusted growth in baseline taxes ... exceeds 2.5 per cent
  versions:
    - effective_from: '2002-01-01'
      formula: '0.025'

part_c_qualified_small_business_stock_asset_limit

Parameter

source: 4(c)

- name: part_c_qualified_small_business_stock_asset_limit
  kind: parameter
  dtype: Money
  unit: USD
  source: 4(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: has less than $50 million in assets at the time of investment
  versions:
    - effective_from: '2011-01-01'
      formula: '50000000'

part_c_qualified_small_business_stock_holding_period_years

Parameter

source: 4(c)

- name: part_c_qualified_small_business_stock_holding_period_years
  kind: parameter
  dtype: Count
  source: 4(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: are held for 3 years or more
  versions:
    - effective_from: '2011-01-01'
      formula: '3'

part_c_qualified_small_business_stock_tax_rate

Parameter

source: 4(c)

- name: part_c_qualified_small_business_stock_tax_rate
  kind: parameter
  dtype: Rate
  source: 4(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: shall be taxed at a rate of 3 per cent
  versions:
    - effective_from: '2011-01-01'
      formula: '0.03'

part_c_qualified_small_business_stock_investment_window_years

Parameter

source: 4(c)

- name: part_c_qualified_small_business_stock_investment_window_years
  kind: parameter
  dtype: Count
  source: 4(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: investments shall be made within 5 years of the date of incorporation
  versions:
    - effective_from: '2011-01-01'
      formula: '5'

millionaire_surtax_statutory_threshold

Parameter

source: 4(d)

- name: millionaire_surtax_statutory_threshold
  kind: parameter
  dtype: Money
  unit: USD
  source: 4(d)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: exceeds $1,000,000 in a taxable year
  versions:
    - effective_from: '2023-01-01'
      formula: '1000000'

millionaire_surtax_rate

Parameter

source: 4(d)

- name: millionaire_surtax_rate
  kind: parameter
  dtype: Rate
  source: 4(d)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: plus an additional 4 per cent
  versions:
    - effective_from: '2023-01-01'
      formula: '0.04'

ma_income_tax_rate

Derived

source: 4(b)

- name: ma_income_tax_rate
  kind: derived
  entity: TaxUnit
  dtype: Rate
  period: Year
  source: 4(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: >-
              Part B taxable income shall be taxed at the lesser of: (i) the rate in effect for the
              prior taxable year minus.05 per cent if ...; or (ii) the rate in effect for the prior
              year.
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: >-
              personal exemption amounts ... are the same as those amounts ... for the taxable year
              beginning on January 1, 2001
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: >-
              inflation-adjusted change in baseline taxes for each consecutive 3 month period ... is
              greater than 0
  versions:
    - effective_from: '2002-01-01'
      formula: >-
        if part_b_rate_adjustment_regime_applies: max(part_b_minimum_tax_rate, if
        personal_exemption_amounts_equal_amounts_for_taxable_year_beginning_january_1_2001 and
        inflation_adjusted_growth_in_baseline_taxes_for_prior_fiscal_year >
        part_b_baseline_tax_growth_threshold and
        inflation_adjusted_change_in_baseline_taxes_for_each_reported_consecutive_three_month_period_between_august_and_december_is_greater_than_zero:
        prior_taxable_year_part_b_tax_rate - part_b_rate_reduction_increment else:
        prior_taxable_year_part_b_tax_rate) else: part_b_initial_tax_rate

ma_income_tax_rate_including_millionaire_surtax

Derived

source: 4(d)

- name: ma_income_tax_rate_including_millionaire_surtax
  kind: derived
  entity: TaxUnit
  dtype: Rate
  period: Year
  source: 4(d)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: >-
              the portion of such taxable income exceeding $1,000,000 shall be taxed at the rates
              specified in subsections (a) to (c), inclusive, plus an additional 4 per cent
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: >-
              any negative amount or loss in any part of taxable income shall not be applied to
              reduce income in any other part
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: >-
              the $1,000,000 taxable income threshold ... shall be subject to the cost-of-living
              adjustment
  versions:
    - effective_from: '2023-01-01'
      formula: >-
        if max(0, part_a_taxable_income) + max(0, part_b_taxable_income) + max(0,
        part_c_taxable_income) > millionaire_surtax_statutory_threshold +
        cost_of_living_adjustment_to_millionaire_surtax_threshold_under_code_section_1_f:
        ma_income_tax_rate + millionaire_surtax_rate else: ma_income_tax_rate

loading…

Section 4

Official source

General Laws

Part I ADMINISTRATION OF THE GOVERNMENT

Title IX TAXATION

Chapter 62 TAXATION OF INCOMES

Section 4 Rates of tax for residents, non-residents and corporate trusts

in view

Whole section

▸rulespec code

Shown source

statutes/62/4.yaml

Displaying the canonical repository encoding.

This encoding covers the parent provision us-ma/statute/62/4; no dedicated encoding exists for this exact provision yet.

View on GitHub

Rules

part_a_capital_gains_tax_rate

Parameter

source: 4(a)(1)

- name: part_a_capital_gains_tax_rate
  kind: parameter
  dtype: Rate
  source: 4(a)(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: >-
              Part A taxable income consisting of capital gains shall be taxed at the rate of 12 per
              cent
  versions:
    - effective_from: '2023-01-01'
      formula: '0.12'

part_a_short_term_capital_gains_holding_period_limit_years

Parameter

source: 4(a)(1)

- name: part_a_short_term_capital_gains_holding_period_limit_years
  kind: parameter
  dtype: Count
  source: 4(a)(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: capital assets held for 1 year or less
  versions:
    - effective_from: '2023-01-01'
      formula: '1'

part_a_short_term_capital_gains_tax_rate

Parameter

source: 4(a)(1)

- name: part_a_short_term_capital_gains_tax_rate
  kind: parameter
  dtype: Rate
  source: 4(a)(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: shall be taxed at the rate of 8.5 per cent
  versions:
    - effective_from: '2023-01-01'
      formula: '0.085'

part_a_interest_and_dividends_stated_tax_rate

Parameter

source: 4(a)(2)

- name: part_a_interest_and_dividends_stated_tax_rate
  kind: parameter
  dtype: Rate
  source: 4(a)(2)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: interest and dividends shall be taxed at the rate of 5.95 per cent
  versions:
    - effective_from: '2002-01-01'
      formula: '0.0595'

part_b_initial_tax_rate

Parameter

source: 4(b)

- name: part_b_initial_tax_rate
  kind: parameter
  dtype: Rate
  source: 4(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: Part B taxable income shall be taxed at the rate of 5.3 per cent
  versions:
    - effective_from: '2002-01-01'
      formula: '0.053'

part_b_minimum_tax_rate

Parameter

source: 4(b)

- name: part_b_minimum_tax_rate
  kind: parameter
  dtype: Rate
  source: 4(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: Part B taxable income shall be taxed at a rate of not less than 5 per cent.
  versions:
    - effective_from: '2002-01-01'
      formula: '0.05'

part_b_rate_reduction_increment

Parameter

source: 4(b)

- name: part_b_rate_reduction_increment
  kind: parameter
  dtype: Rate
  source: 4(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: the rate in effect for the prior taxable year minus.05 per cent
  versions:
    - effective_from: '2002-01-01'
      formula: '0.0005'

part_b_baseline_tax_growth_threshold

Parameter

source: 4(b)

- name: part_b_baseline_tax_growth_threshold
  kind: parameter
  dtype: Rate
  source: 4(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: inflation adjusted growth in baseline taxes ... exceeds 2.5 per cent
  versions:
    - effective_from: '2002-01-01'
      formula: '0.025'

part_c_qualified_small_business_stock_asset_limit

Parameter

source: 4(c)

- name: part_c_qualified_small_business_stock_asset_limit
  kind: parameter
  dtype: Money
  unit: USD
  source: 4(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: has less than $50 million in assets at the time of investment
  versions:
    - effective_from: '2011-01-01'
      formula: '50000000'

part_c_qualified_small_business_stock_holding_period_years

Parameter

source: 4(c)

- name: part_c_qualified_small_business_stock_holding_period_years
  kind: parameter
  dtype: Count
  source: 4(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: are held for 3 years or more
  versions:
    - effective_from: '2011-01-01'
      formula: '3'

part_c_qualified_small_business_stock_tax_rate

Parameter

source: 4(c)

- name: part_c_qualified_small_business_stock_tax_rate
  kind: parameter
  dtype: Rate
  source: 4(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: shall be taxed at a rate of 3 per cent
  versions:
    - effective_from: '2011-01-01'
      formula: '0.03'

part_c_qualified_small_business_stock_investment_window_years

Parameter

source: 4(c)

- name: part_c_qualified_small_business_stock_investment_window_years
  kind: parameter
  dtype: Count
  source: 4(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: investments shall be made within 5 years of the date of incorporation
  versions:
    - effective_from: '2011-01-01'
      formula: '5'

millionaire_surtax_statutory_threshold

Parameter

source: 4(d)

- name: millionaire_surtax_statutory_threshold
  kind: parameter
  dtype: Money
  unit: USD
  source: 4(d)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: exceeds $1,000,000 in a taxable year
  versions:
    - effective_from: '2023-01-01'
      formula: '1000000'

millionaire_surtax_rate

Parameter

source: 4(d)

- name: millionaire_surtax_rate
  kind: parameter
  dtype: Rate
  source: 4(d)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: plus an additional 4 per cent
  versions:
    - effective_from: '2023-01-01'
      formula: '0.04'

ma_income_tax_rate

Derived

source: 4(b)

- name: ma_income_tax_rate
  kind: derived
  entity: TaxUnit
  dtype: Rate
  period: Year
  source: 4(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: >-
              Part B taxable income shall be taxed at the lesser of: (i) the rate in effect for the
              prior taxable year minus.05 per cent if ...; or (ii) the rate in effect for the prior
              year.
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: >-
              personal exemption amounts ... are the same as those amounts ... for the taxable year
              beginning on January 1, 2001
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: >-
              inflation-adjusted change in baseline taxes for each consecutive 3 month period ... is
              greater than 0
  versions:
    - effective_from: '2002-01-01'
      formula: >-
        if part_b_rate_adjustment_regime_applies: max(part_b_minimum_tax_rate, if
        personal_exemption_amounts_equal_amounts_for_taxable_year_beginning_january_1_2001 and
        inflation_adjusted_growth_in_baseline_taxes_for_prior_fiscal_year >
        part_b_baseline_tax_growth_threshold and
        inflation_adjusted_change_in_baseline_taxes_for_each_reported_consecutive_three_month_period_between_august_and_december_is_greater_than_zero:
        prior_taxable_year_part_b_tax_rate - part_b_rate_reduction_increment else:
        prior_taxable_year_part_b_tax_rate) else: part_b_initial_tax_rate

ma_income_tax_rate_including_millionaire_surtax

Derived

source: 4(d)

- name: ma_income_tax_rate_including_millionaire_surtax
  kind: derived
  entity: TaxUnit
  dtype: Rate
  period: Year
  source: 4(d)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: >-
              the portion of such taxable income exceeding $1,000,000 shall be taxed at the rates
              specified in subsections (a) to (c), inclusive, plus an additional 4 per cent
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: >-
              any negative amount or loss in any part of taxable income shall not be applied to
              reduce income in any other part
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-ma/statute/62/4
            excerpt: >-
              the $1,000,000 taxable income threshold ... shall be subject to the cost-of-living
              adjustment
  versions:
    - effective_from: '2023-01-01'
      formula: >-
        if max(0, part_a_taxable_income) + max(0, part_b_taxable_income) + max(0,
        part_c_taxable_income) > millionaire_surtax_statutory_threshold +
        cost_of_living_adjustment_to_millionaire_surtax_threshold_under_code_section_1_f:
        ma_income_tax_rate + millionaire_surtax_rate else: ma_income_tax_rate