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Taxation In Massachusetts
Massachusetts has four types of taxes: individual taxes, business taxes, sales taxes, and property taxes. Tax reductions in Massachusetts Massachusetts allows for tax reductions based upon different factors. Forest Tax Program Chapter 61 Forestry, agriculture, and recreation 'Chapter 61'' is a voluntary current use program designed by the Massachusetts Legislature to tax real property in the Commonwealth of Massachusetts at its resources value rather than its highest and best use (development) value. Landowners who enroll their land in the program receive property tax reductions in exchange for a lien on their property. There are three types of Chapter 61 programs: Chapter 61 Forest Lands and Forest Products Chapter 61A Agricultural and Horticultural Land Chapter 61B Recreational Land Chapter 61 Forest Lands and Forest Products Under Chapter 61, in order to qualify for the Chapter 61 program, a parcel of real property must be at least contiguous and under the same own ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sales Tax
A sales tax is a tax paid to a governing body for the sales of certain goods and services. Usually laws allow the seller to collect funds for the tax from the consumer at the point of purchase. When a tax on goods or services is paid to a governing body directly by a consumer, it is usually called a use tax. Often laws provide for the Tax exemption, exemption of certain goods or services from sales and use tax, such as food, education, and medicines. A value-added tax (VAT) collected on goods and services is related to a sales tax. See Value-added tax#Comparison with sales tax, Comparison with sales tax for key differences. Types Conventional or retail sales tax is levied on the sale of a good to its final good, final end-user and is charged every time that item is sold retail. Sales to businesses that later resell the goods are not charged the tax. A purchaser who is not an end-user is usually issued a "resale certificate" by the taxing authority and required to provide the cer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
