Who Is Subject to Ma Net Worth Tax?

The Massachusetts sales tax is 6.25%. Sales tax is collected by the seller.
Nonresidents file returns if their gross income exceeds $8,000 or prorated personal exemption.
Retirees pay taxes if their income exceeds $8,000.
You can pay your Massachusetts state taxes online or via mail.
The itemized deduction for state and local taxes is not available for AMT purposes.

Tax rates in Malta are progressive for EU nationals with Ordinary Residence.
Other expats pay 15% flat tax on income in or remitted to Malta.
Spain’s wealth tax is based on assets over €700,000 with an allowance of €1.4 million jointly and a primary home exemption of €300,000.
The NIIT is a 3.8% tax on investment income exceeding $200,000 for individuals and $250,000 for joint filers.
The Additional Medicare Tax is a 0.9% tax on earned income above thresholds.

Sales tax applies to purchases while excise tax applies to specific goods and services.
Excise tax is included in the price and isn’t shown on receipts.
Consumers don’t directly pay excise tax.
Excise tax goes into general government revenue for transport infrastructure.

Calculating corporate net income starts with federal gross income minus deductions.
Corporate credits are separate from deductions.
An S-corp filing excise tax can deduct like a C-corp, with exceptions.
Corporations file forms 355A or 355B.

Nonresidents file tax returns if income is less than $8,000 or exemption, whichever is less.
Taxes can be paid online or via mail.
It may be useful to itemize deductions even if less than the standard deduction.
The TAX deadline is JULY 15th.