This bill establishes a property tax exemption for veterans with service-connected disabilities in Massachusetts. Beginning in 2026, veterans with a VA-certified disability of 30% or higher qualify for annual tax exemptions: $2,500 for 30-49% disability, $5,000 for 50-69%, and full exemption for 70% or higher. Surviving spouses who live in the home and don't remarry can continue the exemption, and veterans killed in service automatically qualify. The exemption requires annual reapplication and applies only to the primary residence, with proration if occupancy changes during the year.
This bill amends Massachusetts tax law to increase small commercial property tax exemptions. It raises the maximum tax exemption rate from 10% to 20% of a property's value and increases the property value threshold from $1 million to $4 million. Local legislative bodies will now set exemptions within these new limits for qualifying small commercial properties. The changes directly affect small business owners and property holders whose properties meet these updated criteria.
This bill (HD 1320) exempts qualifying small businesses from the Massachusetts telecommunications sales tax. It applies to independently owned businesses (such as sole proprietorships, partnerships, or LLCs) that meet Small Business Administration size standards and either employ fewer than 100 people in Massachusetts or generate under $2 million annually in retail/service industries. The exemption covers sales tax on telecommunications services as defined in existing law. Only businesses meeting all three criteria (independent ownership, SBA size standards, and employee/revenue thresholds) qualify for the tax exemption.
This bill (SD 255) allows small businesses with fewer than 500 employees to deduct capital gains from selling company shares to an employee stock ownership plan (ESOP) when the ESOP owns at least 49% of the business. It directly affects small business owners who sponsor ESOPs, providing a tax incentive to transition ownership to employees. The key provision amends tax law to permit this deduction for gains from the sale of employer securities to qualifying ESOPs. The bill must be sponsored by the business itself and applies only to non-publicly traded companies. The measure was recently referred to the Revenue committee after House concurrence.
By Mr. Fattman, a petition (accompanied by bill, Senate, No. 1980) of Ryan C. Fattman, Alyson M. Sullivan-Almeida and Bruce E. Tarr for legislation relative to the small commercial tax exemption. Revenue.
By Mr. Fattman, a petition (accompanied by bill, Senate, No. 1986) of Ryan C. Fattman and Bruce E. Tarr for legislation relative to 100% disabled veteran motor vehicle tax exemptions. Revenue.
By Mr. DiDomenico, a petition (accompanied by bill, Senate, No. 1958) of Sal N. DiDomenico for legislation to establish a tax incentive program for micro businesses to hire formerly incarcerated individuals and individuals receiving transitional benefits. Revenue.
By Representative Robertson of Tewksbury, a petition (accompanied by bill, House, No. 3220) of David Allen Robertson for legislation to establish tax credits for certain development on Massachusetts Bay Transit Authority property. Revenue.
By Representative Sweezey of Duxbury, a petition (accompanied by bill, House, No. 3254) of Kenneth P. Sweezey relative to expanding the senior property tax exemption. Revenue.
By Representative Garballey of Arlington, a petition (accompanied by bill, House, No. 3102) of Sean Garballey and Paul J. Donato relative to the senior property tax exemption. Revenue.
