Massachusetts Estate Tax: For decedents dying on or after January 1, 2023, there is no Massachusetts estate tax for an estate under $2,000,000. The law does not adjust the filing threshold so state tax returns may still be required for all estates at or above $1,000,000, but the new law has increased the amount passing tax-free and has eliminated the “cliff effect.” The “cliff effect” refers to the prior rule, which taxed any estate of $1,000,000 or more on the full value of the estate, not just…By: Verrill
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