Massachusetts S1974 aligns the long-term capital gains tax rate with the short-term capital gains tax rate.

Massachusetts S1974 amends the state's tax code to align the long-term capital gains tax rate with the short-term capital gains tax rate. This bill modifies the definition of "alignment surtax" and adjusts the tax rate for long-term capital gains to match the short-term rate, which is currently set at 3.5%. This change affects taxpayers who sell assets held for more than one year, ensuring they pay the same tax rate as those selling assets held for a year or less.

Massachusetts S1974 aligns the long-term capital gains tax rate with the short-term capital gains tax rate.

Massachusetts S1974 amends the state's tax code to align the long-term capital gains tax rate with the short-term capital gains tax rate. This bill modifies the definition of "alignment surtax" and adjusts the tax rate for long-term capital gains to match the short-term rate, which is currently set at 3.5%. This change affects taxpayers who sell assets held for more than one year, ensuring they pay the same tax rate as those selling assets held for a year or less.