On November 8, 2022, Massachusetts voters approved an amendment to the Massachusetts Constitution imposing, effective January 1, 2023, a surtax of 4% on an individual’s annual taxable income to the extent it exceeds $1...more
It is without question that when the Washington Legislature enacted the Business & Occupation surtax on financial institutions with consolidated net income of at least one billion dollars, the Legislature had a discriminatory...more
Certain revenue-raising proposals that would have affected the transfer tax regime and estate planning of high-net-worth individuals and trusts, which were included in the prior proposed bill in the House of Representatives,...more
It appears as though the “millionaire’s tax” is back in play in Massachusetts. On Friday, January 18, Massachusetts State Senator Jason Lewis (D-Winchester) and Representative James O’Day (D-Worcester) filed legislation that...more
On September 27, 2017, the Secretary of the Treasury, the Director of the National Economic Council, the Chair of the U.S. House Ways and Means Committee, the Chair of the U.S. Senate Finance Committee, the Speaker of the...more