Massachusetts H3135 amends tax laws to exempt up to $50,000 of Rhode Island municipal pensions for Massachusetts residents.

Massachusetts H3135 amends the tax exemption status of municipal employee pensions. Specifically, it allows Massachusetts residents who are retired municipal employees of Rhode Island to be exempt from Massachusetts income tax for the first $10,000 of their Rhode Island municipal retirement pension. This exemption extends to any additional municipal pensions up to a total of $50,000 per year. The change takes effect upon the bill's passage.

Massachusetts H3135 amends tax laws to exempt up to $50,000 of Rhode Island municipal pensions for Massachusetts residents.

Massachusetts H3135 amends the tax exemption status of municipal employee pensions. Specifically, it allows Massachusetts residents who are retired municipal employees of Rhode Island to be exempt from Massachusetts income tax for the first $10,000 of their Rhode Island municipal retirement pension. This exemption extends to any additional municipal pensions up to a total of $50,000 per year. The change takes effect upon the bill's passage.