Massachusetts tax credit for working families rises Jan. 1
BOSTON (AP) — A boost in the state’s earned income tax credit could put more money into the pockets of low-income working families in Massachusetts.
The Legislature approved increasing the Massachusetts credit from 15 percent to 23 percent of the federal earned income tax credit, effective Jan. 1.
The maximum value of the credit will jump more than $500 to $1,442 as a result of the change.
Eligibility is determined by factors including income, marital status and number of children.
Gov. Charlie Baker had called for a doubling of the state credit to 30 percent of the federal credit, and at one point proposed paying for it by eliminating the tax credit offered for movie production in Massachusetts. But lawmakers opted to keep the film credit.