Massachusetts Taxes EXPLAINED! Are You Paying Too Much?!

001But you know this tax assets handle that uh the commonwealth has earned and deserves at this juncture. Oh yeah. Is easily explained when you think about each individual tax. Now it's tax season. We all know that we have the personal income tax. It's federal taxes, state tax. We know that Massachusetts, John, has a uh a state income tax. Something that at one time or another they didn't have, right? Or was it was lower. But I have a list for you. Sometimes it's fun to go through lists, but this the list of the taxes we pay. Taxes in Massachusetts. Okay. Income tax varies, I think, between five and 9% depending on on how much you make. So, that's a lot of money. Okay. Added to the federal sales taxes, six and a quarter. Correct me, gentlemen, if I'm wrong on any of these numbers. Six and a quarter% sales tax, which by the way sends a lot of money to New Hampshire. Yeah. And out of the uh revenue stream of the Commonwealth of Massachusetts, property tax 1.04% that's an ongoing and that's also based on how much do you how much do you own? What's it worth? Uh corporate tax, John, is 8%, right? I believe. 8%. Yep. The millionaire's tax if you get over a certain amount of money, I can't remember the I'll never hit it myself personally, but it's an additional 4%.