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Question 1 nearly doubles the state income tax rate on tens of thousands of small-business owners, large employers, and retirees. Question 1 treats one-time earnings—the sale of homes, investments, businesses, pensions, and inheritances—as income.
Commonly known as the “Millionaire’s Tax” or the “Fair Share Amendment,” Question 1 on Massachusetts’ 2022 general election ballots would amend the state constitution to apply an extra 4% tax on all residents’ personal income over $1 million.
Question 1 — also called the Fair Share Amendment — would amend the state constitution to levy an additional 4% tax on income over $1 million, to be put toward education and transportation.
Question 1 proposed amending the state’s constitution to levy an additional 4% surtax on income over $1 million, to be put toward education and transportation.
On Election Day, a narrow majority of Massachusetts voters approved Question 1, also known as the Fair Share Amendment, which will transition the Commonwealth from a flat rate individual income tax to a graduated rate system.
Massachusetts Question 1 Election Results: Create New Income Tax Level. A new 4 percent tax would be levied on incomes above $1 million, with revenue directed to education and...
Massachusetts voters narrowly approved Question 1 on Tuesday’s ballot, paving the way for the state to enact the “millionaire’s tax” at the heart of a heated campaign.