Patrick unveils tool to estimate tax impact

BOSTON – Gov. Deval L. Patrick last week unveiled an online tool that shows the impact of his administration’s fiscal 2014 budget proposal on an individual or family’s budget. More

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Patrick unveils tool to estimate tax impact

Posted 3/11/13

BOSTON – Gov. Deval L. Patrick last week unveiled an online tool that shows the impact of his administration’s fiscal 2014 budget proposal on an individual or family’s budget.

The tool, along with other information, can be found at www.mass.gov/governor/choosegrowth.

According to a news release, residents can enter information, including their annual income and filing status, and will be able to view the impact of the proposal on their personal taxes.

The proposed budget calls for the creation of a “simpler and fairer” tax system that lowers the sales tax from 6.25 percent to 4.5 percent, and raises the income tax to 6.25 percent. All proceeds from the sales tax will be dedicated to a public-works fund that will support the administration’s 21st-century transportation plan, as well as the school building fund and other public infrastructure projects. It will be off limits for any other purpose.

In an effort to make the increase “fair to all according to their ability to pay,” Patrick has proposed doubling the personal exemptions for every taxpayer and eliminating a number of itemized deductions. •

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