MA S1995

Amends Massachusetts estate tax law (Chapter 65C, Section 2A) to align state thresholds with federal estate tax exemption levels established under 26 USC § 2010

Creates a tax credit for estates of decedents dying on or after January 1, 2025, equal to the full estate tax amount, capped at the federal exemption level

Exempts estates from Massachusetts estate tax entirely if the federal taxable estate value does not exceed the federal threshold (currently approximately $13.61 million per individual in 2024)

Effectively raises Massachusetts estate tax exemption from the current $2 million threshold to match the much higher federal exemption level

Sponsored by Senators Ryan C. Fattman (Worcester and Hampden) and Bruce E. Tarr (First Essex and Middlesex), filed January 17, 2025