Massachusetts Budget & Policy Center: How Much Does the Millionaire Tax Improve Tax Fairness? How Does Massachusetts Compare Now to Other States?
ITEP Work in ActionA new 50-state analysis from the Institute on Taxation and Economic Policy (ITEP) finds that Massachusetts’ recently adopted millionaire tax makes Massachusetts’ state and local tax system much more equitable. Even under current law, however, those with incomes over $1 million still will pay a smaller share of their income in state and local taxes than the bottom 95 percent of households.