Massachusetts H3025 proposes a tax credit for long-term care insurance premiums.
Massachusetts H3025 amends Chapter 176U of the General Laws to introduce a tax credit for individuals eligible for long-term care insurance. The credit, equal to 20 percent of the premiums paid, applies to taxable years ending on or after December 31, 2023. Individuals claiming this credit must provide necessary information to the commissioner of the department of revenue.
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