MFA NEWS SCAN AUGUST 10, 2015
- Thursday, August 13, 2015SALES TAX HOLIDAY THIS WEEKEND
SALES TAX HOLIDAY THIS WEEKEND
On August 6 Governor Baker signed into law the sales tax holiday, which will take place August 15 and 16 this weekend. The most relevant items for our industry that will continue to be taxed include meals, telecommunications services, and gas and tobacco products. For a complete description of the law click here or contact the MFA office.
New tax filing system for ma business taxpayers
(A message from the ma department of revenue)
On November 30th 2015, the Massachusetts Department of Revenue will be replacing WebFile for Business with a new state-of-the-art online tax filing system – MassTaxConnect.
Q. Who will be affected?
A. This upgrade will include most business taxes and will affect corporations and other businesses, business owners, payroll providers, Business Telefile users, trustees, and tax practitioners among others. Personal income tax will NOT be impacted at this time.
Q. What does it mean for me?
A. We are making this investment in our system with you in mind. It will mean enhanced reliability, efficiency, accuracy, timeliness, and flexibility with the services that we provide you—the customer.
Q. What do I need to do now?
A. For now, file your returns as you have been doing until MassTaxConnect is available on November 30. WebFile for Business usernames and passwords will be the same for MassTaxConnect.
We will continue to keep you informed about the transition to MassTaxConnect, including important dates, demonstrations, available training, and what businesses, business owners, and tax practitioners should expect when filing online.
Visit the MassTaxConnect page on our website for general information and news about the benefits coming your way. Check back often for updates!
GOVERNOR BAKER SIGNS EITC INCREASE INTO LAW
On Wednesday, August 5 Governor Baker signed into law an increase in the state’s Earned Income Tax credit, lifting the rate from 15 to 23 percent, a 50% increase which amounts to nearly $500 more from the tax credit for an eligible low-income family. The state’s state earned income tax credit now rises from 15 percent to 23 percent, raising the maximum state credit from $951 to $1,459, affecting over 400,000 citizens of the Commonwealth. The Governor has stated he will push for another increase in the future to raise the rate to 30 percent following a campaign promise to double the rate, which was at 15%.
FOLLOW UP OF LAST NEWS SCAN - ENGLISH FOR NEW BOSTONIANS
In last week’s News Scan, several links were cited for those interested in the English for New Bostonians program and challenge. The links may have been broken, so below are the corrected links:
ESOL for Entrepreneurs: http://www.englishfornewbostonians.org/entrepreneurs
ESOL for Parents: http://www.englishfornewbostonians.org/targetedinitiatives
Kraft Challenge Page: http://englishfornewbostonians.org/civicrm/contribute/transact?reset=1&id=3
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