1. What is the Massachusetts Salary Tax?

The Massachusetts Salary Tax for 2024-25 is calculated based on your taxable income, the state tax rate, and FICA contributions. This calculator helps estimate your total tax burden for the 2024-25 fiscal year.

2. How Does the Calculator Work?

The calculator uses the Massachusetts tax formula:

Where:

• \( Taxable\ Income \) — Your gross income minus deductions (dollars)
• \( MA\ 2024-25\ Tax\ Rate \) — Massachusetts state tax rate (percentage)
• \( FICA \) — Federal Insurance Contributions Act taxes (dollars)

Explanation: The equation calculates your state tax by applying the tax rate to your taxable income, then adds your FICA contributions to determine your total tax burden.

3. Importance of Tax Calculation

Details: Accurate tax estimation is crucial for financial planning, budgeting, and ensuring you meet your tax obligations in Massachusetts.

4. Using the Calculator

Tips: Enter your taxable income in dollars, the Massachusetts 2024-25 tax rate as a percentage, and your FICA amount in dollars. All values must be valid (non-negative numbers).

5. Frequently Asked Questions (FAQ)

Q1: What is included in taxable income?
A: Taxable income is your gross income minus allowable deductions such as 401(k) contributions, health insurance premiums, and other pre-tax benefits.

Q2: Where can I find the official MA tax rates?
A: The Massachusetts Department of Revenue website provides official tax rate information for 2024-25.

Q3: What is FICA?
A: FICA stands for Federal Insurance Contributions Act, which includes Social Security and Medicare taxes.

Q4: Are there local taxes in Massachusetts?
A: Massachusetts doesn't have local income taxes, but some municipalities may have local option taxes on meals, lodging, etc.

Q5: When are Massachusetts taxes due?
A: For the 2024-25 tax year, the filing deadline is typically April 15, 2025, unless extended.