ddoggy
Level 3
03-05-2025
11:18 PM
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The state of MA repealed the interest deduction for MA banks starting in 2024.
Effective for tax years beginning on or after January 1, 2024, the Act repealed Mass. Gen. L. Ch. 62 § 3.B(a)(6) which formerly allowed amounts of interest and dividends from Massachusetts banks to be excluded from Massachusetts Part B taxable income.