#revenues

The new Massachusetts estate tax may be correlated to lower estate tax revenues. However, the inclusion of out-of-state property in the estate tax calculation has brought about important legal questions.

The Commonwealth’s tax collections continue to slide, totaling $3.594 billion in January, $268 million below what the state collected in January 2023, and short of the revised benchmark by $263 million. Massachusetts state government must live within its means by reducing FY2025 spending. The days of fiscal surpluses, unprecedented increases in year-over-year spending, and flowing federal aid have come to an end.