Wealth Surtax May Generate $3 Billion

Wealth surtax may generate $3 billion

BOSTON (SHNS) - State budget honcho Matthew Gorzkowicz told municipal officials Tuesday that the state is on track to rake in nearly $3 billion from its surtax on household income greater than about $1 million, more than double the estimate used to craft this year's budget. The Department of Revenue reported last month that the state had collected just less than $2.6 billion from the 4% surtax between July 1, 2024 and April 30, 2025, surpassing …

Wealth surtax may generate $3 billion in Mass.

Massachusetts' 4% surtax on household income greater than $1 million, approved by voters in 2022, is on track to bring in nearly $3 billion in this fiscal year.

Wealth Surtax May Generate $3B

State budget honcho Matthew Gorzkowicz told municipal officials Tuesday that the state is on track to rake in nearly $3 billion from its surtax on household income greater than about $1 million, more than double the estimate used to craft this year's budget.

Mass. wealth surtax may generate whopping $3 billion, official says

BOSTON — State budget honcho Matthew Gorzkowicz told municipal officials Tuesday that the state is on track to rake in nearly $3 billion from its surtax on household income greater than about $1 million, more than double the estimate used…