An Act relative to tax exemptions for contributions to a 401(k) through a sole proprietorship

This bill (HD 393) amends Massachusetts tax law to remove a specific tax exemption for sole proprietors who contribute to 401(k) retirement plans through their business. It directly affects self-employed individuals operating as sole proprietors in Massachusetts. The change eliminates the existing tax exemption (previously provided under subparagraph D of section 2 of chapter 62) for these contributions, meaning such contributions would no longer qualify for the same tax benefit. The bill modifies the state's tax code to adjust this provision for sole proprietorship 401(k) contributions.