More information on how you will receive your refund will become available November 2022. Distribution of refunds is expected to begin in November 2022.Ĭhapter 62F requires distribution of the credits in proportion to personal income tax liability in Massachusetts incurred by taxpayers in the immediately preceding taxable year – Tax Year 2021. If you are eligible for a refund, you will receive it automatically as a check sent through the mail or through direct deposit. In order to be eligible, you must have filed a 2021 state tax return on or before the due date for that return or extension (October 17, 2022, for most individuals). No action is needed to receive your refund. Do I need to take any action to receive a refund? Fiduciary filers (trusts and estates) are eligible.Non-residents on whose behalf a partnership or S corporation files on a composite basis are eligible.Both resident and non-resident filers are eligible.EligibilityĪnyone who paid personal income taxes in Massachusetts for the 2021 tax year and filed a 2021 state tax return on or before the due date for that return or extension (Octofor most individuals) is eligible to receive a refund. This means that the amount that must be returned to taxpayers under the statute is $2,941,499,731. In FY22, total state tax revenue collected was $41,812,654,358, which exceeded the allowable revenue threshold for FY22 as defined by Chapter 62F of $38,871,154,627 by a total of $2,941,499,731. Why is Chapter 62F being triggered this year? The State Auditor then makes the determination of whether net state tax revenue exceeds allowable state tax revenue – and, if so, by what amount – on or before the third Tuesday of September (September 20 th in 2022). The law requires that the Department of Revenue submit a report to the State Auditor on the net state tax revenues and the allowable state tax revenues for each fiscal year by September 1 st. Who determines whether Chapter 62F is triggered? Refund EstimatorĬhapter 62F is a Massachusetts General Law that requires the Department of Revenue to issue a credit to taxpayers if total tax revenues in a given fiscal year exceed an annual cap tied to wage and salary growth in the Commonwealth.Įnacted by voters in 1986 via a ballot question, the Chapter 62F process has been triggered once before, in 1987. You can use the estimator below to estimate your refund based on your Tax Year 2021 income tax liability. More specific information about the timing for refunds will be shared closer to that time. In order to be eligible, you must have filed a 2021 state tax return on or before the due date for your return or extension (October 17, 2022, for most individuals). If you are eligible for a refund, you will receive it automatically as a check sent through the mail or through direct deposit.ĭistribution of refunds is expected to begin in November 2022. Please also note that credits may be reduced due to refund intercepts, including for unpaid tax liability, unpaid child support, and certain other debts. This percentage is a preliminary estimate and will be finalized in late October, after the 2021 individual tax return filing extension deadline of October 17, 2022. In general, eligible taxpayers will receive a credit in the form of a refund of approximately 13% of their Massachusetts personal income tax liability for Tax Year 2021. This excess revenue will be returned to taxpayers in the coming months. In this past fiscal year, Fiscal Year 2022 (FY22), Massachusetts tax revenue collections exceeded the annual tax revenue cap set by Chapter 62F of the Massachusetts General Laws by $2.941 billion.
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