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Boston, Massachusetts's base combined 2023 sales tax rate is 6.25%. The combined sales taxes for the state, county, and city are shown here.
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The exemption from the lifetime gift tax is adjusted to $12.92 million in 2023. The exemption will "sunset" and return to $5 million in 2026, with an inflation adjustment. Additionally, the $10 million lifetime exemption from the estate tax is inflation-indexed. The exemption from the estate tax for 2023 is also $12.92 million.
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H. 3770 lowers the income tax rate on short-term capital gains from the present rate of 10% to 8% for the 2023 tax year, and then again to 5% for the 2024 tax year, which is the rate for income and long-term capital gains.
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