Taxachusetts No More: “Millionaire’s Tax” denied
The Massachusetts Supreme Judicial Court ruled yesterday that a ballot initiative that would have had Bay Staters vote this fall to raise the state income on its wealthiest residents is unconstitutional. The Fair Share Amendment, dubbed by some the “Millionaires Tax,” would have had voters decide whether to increase the income tax rate from 5.1% to 9.1% on incomes exceeding $1 million. The proposal will no longer appear on the November ballot. [...]
June 20, 2018
