Massachusetts H2726 proposes to exempt certain private pension income from state taxation.

Massachusetts H2726 amends Chapter 62 of the General Laws to exempt specific private pension income from state taxation. This includes pensions from employers, the United States, the state, or any subdivision, as well as eligible retirement income. The exemption applies to amounts not exceeding $2,000 for individuals under age 60 and $12,500 for those aged 60 and older. This bill aims to provide tax relief for certain pension recipients in the state.

Massachusetts H2726 proposes to exempt certain private pension income from state taxation.

Massachusetts H2726 amends Chapter 62 of the General Laws to exempt specific private pension income from state taxation. This includes pensions from employers, the United States, the state, or any subdivision, as well as eligible retirement income. The exemption applies to amounts not exceeding $2,000 for individuals under age 60 and $12,500 for those aged 60 and older. This bill aims to provide tax relief for certain pension recipients in the state.