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us-ma/statute/62/64/block-2 — Section 64: Optional tax table · Axiom

Section 64: Optional tax table

Section 64. In lieu of computing the taxes imposed by this chapter, a taxpayer may, at his option except as hereinafter provided, determine his tax liability for each class of income in accordance with a tax table prepared by the commissioner and approved by the commissioner. The tax for each bracket of such table shall be computed upon the median of the taxable income for such bracket and shall be computed to the nearest whole dollar. The size of the brackets of taxable income shall be determined by the commissioner and approved by the commissioner. After arriving at the total tax from the applicable tables, the taxpayer shall deduct therefrom the total rounded to the nearest whole dollar of his withheld taxes and payments of his estimated taxes and the credits to which he is entitled. The commissioner may require taxpayers having taxable income within such limits as he may prescribe to use the tax tables for the computation of their tax liabilities under this chapter.

in view

Whole section

▸rulespec code

Shown source

statutes/62/64.yaml

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Rules

tax_table_rounding_unit

Parameter

source: 64

- name: tax_table_rounding_unit
  kind: parameter
  dtype: Money
  unit: USD
  period: Year
  source: 64
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-ma/statute/62/64
            excerpt: nearest whole dollar
  versions:
    - effective_from: '0001-01-01'
      formula: '1'

tax_table_use_applies

Derived

source: 64

- name: tax_table_use_applies
  kind: derived
  entity: TaxUnit
  dtype: Judgment
  period: Year
  source: 64
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-ma/statute/62/64
            excerpt: >-
              a taxpayer may, at his option except as hereinafter provided, determine his tax
              liability
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-ma/statute/62/64
            excerpt: >-
              The commissioner may require taxpayers having taxable income within such limits as he
              may prescribe to use the tax tables
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        taxpayer_elects_tax_table_computation

        or (commissioner_requires_tax_table_use and
        taxable_income_within_commissioner_prescribed_tax_table_limits)

tax_table_bracket_tax

Derived

source: 64

- name: tax_table_bracket_tax
  kind: derived
  entity: TaxTableBracket
  dtype: Money
  period: Year
  unit: USD
  source: 64
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-ma/statute/62/64
            excerpt: >-
              The tax for each bracket of such table shall be computed upon the median of the
              taxable income for such bracket and shall be computed to the nearest whole dollar.
        - path: versions[0].formula
          kind: import
          import:
            target: us-ma:statutes/62/64#tax_table_rounding_unit
            output: tax_table_rounding_unit
            hash: sha256:local
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        floor((max(0, tax_computed_upon_median_taxable_income_for_bracket) /
        tax_table_rounding_unit) + 0.5) * tax_table_rounding_unit

rounded_tax_table_payments_and_credits

Derived

source: 64

- name: rounded_tax_table_payments_and_credits
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 64
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-ma/statute/62/64
            excerpt: >-
              the total rounded to the nearest whole dollar of his withheld taxes and payments of
              his estimated taxes and the credits to which he is entitled
        - path: versions[0].formula
          kind: import
          import:
            target: us-ma:statutes/62/64#tax_table_rounding_unit
            output: tax_table_rounding_unit
            hash: sha256:local
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        floor(((max(0, withheld_taxes) + max(0, estimated_tax_payments) + max(0,
        credits_to_which_taxpayer_is_entitled)) / tax_table_rounding_unit) + 0.5) *
        tax_table_rounding_unit

tax_liability_under_tax_table_after_payments_and_credits

Derived

source: 64

- name: tax_liability_under_tax_table_after_payments_and_credits
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 64
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-ma/statute/62/64
            excerpt: >-
              After arriving at the total tax from the applicable tables, the taxpayer shall deduct
              therefrom
        - path: versions[0].formula
          kind: import
          import:
            target: us-ma:statutes/62/64#tax_table_use_applies
            output: tax_table_use_applies
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us-ma:statutes/62/64#rounded_tax_table_payments_and_credits
            output: rounded_tax_table_payments_and_credits
            hash: sha256:local
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        if tax_table_use_applies: max(0, max(0, total_tax_from_applicable_tables) -
        rounded_tax_table_payments_and_credits) else: 0

▸citations (1)

References

This rule cites 1 other rule.

MA 62 § 64inferredMA › Statutes › Title 62 › § 64

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Section 64: Optional tax table

Official source

in view

Whole section

▸rulespec code

Shown source

statutes/62/64.yaml

Displaying the canonical repository encoding.

This encoding covers the parent provision us-ma/statute/62/64; no dedicated encoding exists for this exact provision yet.

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Rules

tax_table_rounding_unit

Parameter

source: 64

- name: tax_table_rounding_unit
  kind: parameter
  dtype: Money
  unit: USD
  period: Year
  source: 64
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-ma/statute/62/64
            excerpt: nearest whole dollar
  versions:
    - effective_from: '0001-01-01'
      formula: '1'

tax_table_use_applies

Derived

source: 64

- name: tax_table_use_applies
  kind: derived
  entity: TaxUnit
  dtype: Judgment
  period: Year
  source: 64
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-ma/statute/62/64
            excerpt: >-
              a taxpayer may, at his option except as hereinafter provided, determine his tax
              liability
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-ma/statute/62/64
            excerpt: >-
              The commissioner may require taxpayers having taxable income within such limits as he
              may prescribe to use the tax tables
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        taxpayer_elects_tax_table_computation

        or (commissioner_requires_tax_table_use and
        taxable_income_within_commissioner_prescribed_tax_table_limits)

tax_table_bracket_tax

Derived

source: 64

- name: tax_table_bracket_tax
  kind: derived
  entity: TaxTableBracket
  dtype: Money
  period: Year
  unit: USD
  source: 64
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-ma/statute/62/64
            excerpt: >-
              The tax for each bracket of such table shall be computed upon the median of the
              taxable income for such bracket and shall be computed to the nearest whole dollar.
        - path: versions[0].formula
          kind: import
          import:
            target: us-ma:statutes/62/64#tax_table_rounding_unit
            output: tax_table_rounding_unit
            hash: sha256:local
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        floor((max(0, tax_computed_upon_median_taxable_income_for_bracket) /
        tax_table_rounding_unit) + 0.5) * tax_table_rounding_unit

rounded_tax_table_payments_and_credits

Derived

source: 64

- name: rounded_tax_table_payments_and_credits
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 64
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-ma/statute/62/64
            excerpt: >-
              the total rounded to the nearest whole dollar of his withheld taxes and payments of
              his estimated taxes and the credits to which he is entitled
        - path: versions[0].formula
          kind: import
          import:
            target: us-ma:statutes/62/64#tax_table_rounding_unit
            output: tax_table_rounding_unit
            hash: sha256:local
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        floor(((max(0, withheld_taxes) + max(0, estimated_tax_payments) + max(0,
        credits_to_which_taxpayer_is_entitled)) / tax_table_rounding_unit) + 0.5) *
        tax_table_rounding_unit

tax_liability_under_tax_table_after_payments_and_credits

Derived

source: 64

- name: tax_liability_under_tax_table_after_payments_and_credits
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 64
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-ma/statute/62/64
            excerpt: >-
              After arriving at the total tax from the applicable tables, the taxpayer shall deduct
              therefrom
        - path: versions[0].formula
          kind: import
          import:
            target: us-ma:statutes/62/64#tax_table_use_applies
            output: tax_table_use_applies
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us-ma:statutes/62/64#rounded_tax_table_payments_and_credits
            output: rounded_tax_table_payments_and_credits
            hash: sha256:local
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        if tax_table_use_applies: max(0, max(0, total_tax_from_applicable_tables) -
        rounded_tax_table_payments_and_credits) else: 0

▸citations (1)

References

This rule cites 1 other rule.

MA 62 § 64inferredMA › Statutes › Title 62 › § 64