John M. Hoffman & Associates CPAs

Frequently Asked Tax Questions

Massachusetts Only

Does Massachusetts still have a 12% rate of tax?

YES!

Believe it or not, Massachusetts taxes short term capital gains at a rate of 12%. We find this extraordinary high rate of tax an embarrassment to our state and one of the reasons that people still call it "Taxachusetts".

You really need to be careful with your investments to avoid the short term capital gain rate when you can.