Massachusetts is only the second state ever to switch from a flat to a progressive income tax structure. Washington state recently approved a 9.9% tax on income above $1 million that will begin in 2028.
Illinois state lawmakers are considering their own “millionaires tax.” A proposal that would add a 3% additional income tax on income above $1 million passed out of committee April 21.
Massachusetts is only the second state ever to switch from a flat to a progressive income tax structure. Washington state recently approved a 9.9% tax on income above $1 million that will begin in 2028.
Illinois state lawmakers are considering their own “millionaires tax.” A proposal that would add a 3% additional income tax on income above $1 million passed out of committee April 21.
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