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HOUSE DOCKET, NO. 1600         FILED ON: 1/17/2013

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2750

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Benjamin Swan

_______________

To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
              Court assembled:

              The undersigned legislators and/or citizens respectfully petition for the passage of the accompanying:

An Act amending the withholding tax laws for withdrawals from retirement accounts.

_______________

PETITION OF:

 

Name:

District/Address:

Benjamin Swan

11th Hampden

Bruce E. Tarr

First Essex and Middlesex


HOUSE DOCKET, NO. 1600        FILED ON: 1/17/2013

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2750

By Mr. Swan of Springfield, a petition (accompanied by bill, House, No. 2750) of Benjamin Swan and Bruce E. Tarr relative to the withholding tax laws for withdrawals from retirement accounts.  Revenue. 

 

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE
                                HOUSE
                            , NO. 1724 OF 2011-2012.]


The Commonwealth of Massachusetts
 

 

An Act amending the withholding tax laws for withdrawals from retirement accounts.
 

              Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

              Language being drafted by Counsel.                           

              SECTION 5. Subparagraph (b) of chapter 62 of the General Laws, as appearing in the 2009-2010 Official Edition, is hereby amended by adding thereafter section 2, as follows:—

                         SECTION 2.  (E)(1) Income from any annuity or retirement account to which the taxpayer has contributed income which was previously subject to taxation under Chapter 62 of the General Laws and constituted wages or was subject to voluntary withholding.

                           Section 2 of Chapter 62B of the General Laws, as appearing in the 2009-2010 Official Edition, is hereby amended by inserting in place thereof the following: — hundred and five of said code and subject to federal withholding, except those periodic payments and non-periodic distributions which qualify under Subparagraph (E) (1) of paragraph (2) of subsection (a) of section 2 of chapter 62 of the General Laws, and.

                          SECTION 2 of paragraph (2) the provisions of this act shall be effective for all tax years beginning on or after January 1st.
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