Business Services Industry
Voluntary Tax Rate, Mandatory 'Use Tax' Are New for '02 Filing.
Knight Ridder/Tribune Business News, February, 2003
By Dolores Kong, The Boston Globe Knight Ridder/Tribune Business News
Feb. 23--Massachusetts taxpayers will notice two new line items on Form 1 this year, one asking if they want to voluntarily pay at a higher income tax rate of 5.85 percent, and another requiring them to report a 5 percent "use tax" on any taxable items they bought out of state and used in Massachusetts but didn't pay a sales tax on.
The small print on line 22 notes an "optional 5.85 percent tax rate," as a result of Citizens for Limited Taxation-backed legislation that gives taxpayers who objected to the recent tax rollback the option to pay at the old higher rate, rather than at the current 5.3 percent flat rate.
As of mid-February, 140 taxpayers had opted to pay...
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