In 2025, significant changes to Massachusetts tax laws will take effect, including the full implementation of an expanded tax credit signed into law in 2023 by Governor Maura Healey.<\/p>\n\n
Part of a $1 billion tax reform package, the Child and Family Tax Credit is now one of the most generous in the nation. Key changes include:<\/p>\n\n\n
This change is expected to benefit an estimated 565,000<\/strong> families across the state.<\/p>\n\n Starting in 2025, Massachusetts will adopt the single sales factor method for calculating corporate taxes. Previously, taxes were determined using a combination of a company\u2019s local employment numbers, property holdings, and in-state sales. Under the new system, only in-state sales will be considered. <\/p>\n This shift benefits companies with substantial in-state operations, including:<\/p>\n\n Massachusetts joins several other New England states already using this simplified approach, which aims to encourage economic growth and attract businesses.<\/p>\n These updates reflect the state\u2019s commitment to supporting families and fostering a competitive business environment.<\/p>\n\n Source:<\/strong> https:\/\/www.boston.com\/news\/local-news\/2025\/01\/06\/new-tax-changes-take-effect-2025-massachusetts-healey\/?amp=1 <\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Massachusetts Tax Changes in 2025: What You Need to Know In 2025, significant changes to Massachusetts tax laws will take effect, including the full implementation of an expanded tax credit signed into law in 2023 by Governor Maura Healey. Enhanced Child and Family Tax Credit Part of a $1 billion tax reform package, the Child … Continue reading Corporate Tax Calculation Overhaul<\/h2>\n\n
\n