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Middlesex Massachusetts online Form 5500-EZ: What You Should Know
Municipal Sales and Use Tax — Mass.gov Massachusetts uses the state sales tax rate of 6.25% — 0.15%. The sales and use tax rate is applied equally to the purchase price of the purchase or transfer of property. Taxes for the Sale of Alcoholic Beverages and Beer — Mass.gov This guide answers the question: “What are the taxes and fees that apply to the sale of beer, wine, and spirits?” The City of Boston sales tax is 2.75% with an exception to food. Massachusetts is the only state that levies a local option sales tax, but it does not apply to cigarettes. Massachusetts Tax Calculator — Sales Tax Rates & Tax Deductions for Massachusetts Sales Tax Rates and Deductions for Massachusetts Sales Tax Rate This is the state sales tax rate, which is applied to the final sale price of a product when you prepare the tax return. The tax rate is determined by state code, tax law, and local regulations (see above, page 3). The federal sales tax rate on the sale of property is 21 percent. You may be charged state and local sales tax in both Massachusetts and in the state where the property is located. Massachusetts Sales Tax Rate This calculator uses the following: 1) the sales tax rate in your state (based on the number of people) 2) the tax rate you have (based on your income) 3) the purchase price of the product (based on the above formula) 4) your income tax return filing status (self-employed, sole proprietor, etc.) and 5) your age. In the calculation, enter the tax rate you have for the current calendar year and also enter the tax rate you expect to file this year. Sales Tax Deductions for Massachusetts The State General Fund's sales tax revenue is used to provide many services, including: The Commonwealth has a number of tax credit programs for certain taxpayers. The most common of these are the Homestead Credit, the Dependent Care Credit, and the Credit for Housing. Massachusetts Tax Credit For Individuals The “Tax-Free Homestead Tax Credit” is available for Massachusetts property owners that sell their primary residence and pay taxes on that property. This credit is based on a percentage of the property sale, not the actual sale price of the property. For more information about the homestead tax credit, see Mass. Gen. Laws Sec.
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