7/29/2019 Massachusetts Governor's Tax Exemption Elimination Proposal - personal income tax expenditures

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Personal Income Tax Expenditures: Proposed for Elimination

Data Source: DOR FY13 Tax Expenditure Budget. Revenue estimates are before other proposed personal income tax changes.

TE Budget Code Tax Expenditure Revenue Source Beneficiaries

1.001 E xemption of Premiums on Accident and Accidental Death Insurance $ 24 I.R.C. 1,970,000

1.002 Exemption of Premiums on Group-Term Life Insurance $ 12 I.R.C. -

1.010 Exemption of Workers' Compensation Benefits $ 8 I.R.C. -1.011 Exemption of Dependent Care Expenses $ 9 I.R.C. -

1.012 E xemption of Certain Foster Care Payments $ 3 I.R.C. -

1.013 E xemption of Payments Made to Coal Miners $ - I.R.C. -

1.014 Exemption of Rental Value of Parsonages $ 2 I.R.C. -

1.015 Ex emption of Scholars hips and Fe llow ships $ 19 I .R.C. 255,000

1.016 E xclusion of Certain Prizes and Awards $ - I.R.C. -

1.017 Exemption of Cost-Sharing Payments $ - I.R.C. -

1.018 Exemption of Meals and Lodging Provided at Work $ 8 I.R.C. -

1.019 Treatment of Business-Related Entertainment Expenses $ - I.R.C. -

1.020 Exemption of Income from the Sale, Lease or Transfer of Certain Patents $ - M.G.L. -

1.021 Capital gains on home sales $ 240 I.R.C. 55,000

1.030 Parking, T-pass, and vanpool fringe benefits $ 39 I.R.C. -

1.031 Health Savings Accounts (exemption) $ - I.R.C. -

1.032 Employer-Provided Adoption Assistance $ - I.R.C. -

1.033 Employer-Provided Education Assistance $ 8 I.R.C. -

1.034 Q ualified Retirement Planning Services $ - I.R.C. -

1.035 D epartment of Defense Homeowners Assi stance Pl an $ - I.R.C. -

1. 039 Di scharge of I nde bte dne ss f or He al th Care Prof essi onal s $ - I .R. C. -

1.040 Archer Medical Savings Accounts (exemption) $ - I.R.C. -

1.201 Capital Gains Deduction $ - M.G.L. -

1.202 Deduction of Capital Losses against Interest and Dividend Income $ - M.G.L. -

1.312 E xpensi ng of Certai n Capi tal Outl ays of Farmers $ 0 I.R.C. -

1.401 Deduction for Employee Contributions to Social Security and Railroad Retirement System $ 300 M.G.L. 3,585,000

1.402 Deduction for Employee Contributions to Public Pension Plans $ - M.G.L. -

1.405 Dependents Exemption where the Child Earns Income $ - I .R.C. / M.G.L. -

1.406 Deduction for dependents under 12 $ 136 M.G.L. 510,000

1.407 Personal Exemption for Students Aged 19 or Over $ 8 I.R.C. / M.G.L. -

1.408 Deduction for Adoption Fees $ 0 M.G.L. 1,000

1.409 Deduction for Business-Related Childcare Expenses $ 15 I.R.C. / M.G.L. 54,000

1.412 Nontax at ion of Chari table Purpos e Income of Trustee s, Ex ecutors or Administrators $ - M.G.L. -

1.413 Exemption of Interest on Savings in Massachusetts Banks $ 5 M.G.L. 505,000

1.414 Tuition Tax Deduction $ 36 M.G.L. 65,000

1.415 Charitable Contributions Tax Deduction $ - M.G.L. -

1.418 Deduction for Costs Involved in Unlawful Discrimination Suits $ - I.R.C. -

1.420 Archer Medical Savings Accounts (deduction) $ - I.R.C. -

1.421 Clean-Fuel Vehicles and Certain Refueling Prop. $ - I.R.C. -

1.422 Health Savings Accounts (deduction) $ 12 I.R.C. 10,000

1.423 Commuter Deduction $ 7 M.G.L. 225,000

1.601 Renewable Energy Source Credit $ 1 M.G.L. 2,000

1.602 C redi t for Removal of Lead Pai nt $ 3 M.G.L. 1,8501.606 Septic System Repair Credit 13$ M.G.L. 11,000