We have ballot questions here in Massachusetts on November 4th.
QUESTION 1: Law Proposed by Initiative Petition
State Personal Income Tax
Do you approve of a law summarized below, on which no vote was taken by the Senate or the House of Representatives before May 6, 2008?
As required by law, summaries are written by the State Attorney General, and the statements describing the effect of a "yes" or "no" vote are written jointly by the State Attorney General and the Secretary of the Commonwealth.
This proposed law would reduce the state personal income tax rate to 2.65% for all categories of taxable income for the tax year beginning on or after January 1, 2009, and would eliminate the tax for all tax years beginning on or after January 1, 2010. The personal income tax applies to income received or gain realized by individuals and married couples, by estates of deceased persons, by certain trustees and other fiduciaries, by persons who are partners in and receive income from partnerships, by corporate trusts, and by persons who receive income as shareholders of "S corporations" as defined under federal tax law. The proposed law would not affect the tax due on income or gain realized in a tax year beginning before January 1, 2009. The proposed law states that if any of its parts were declared invalid, the other parts would stay in effect.
WHAT YOUR VOTE WILL DO
A YES VOTE would reduce the state personal income tax rate to 2.65% for the tax year beginning on January 1, 2009, and would eliminate the tax for all tax years beginning on or after January 1, 2010.
A NO VOTE would make no change in state income tax laws.
Don't be fooled by the cuts (or not cuts but slight of hand) proposed by Gov. Patrick. He has cut in places that are quite painful so as to scare the maximum amount of voters into voting "No".
Let's make the legislature accountable to taxpayers.
Vote "YES!" on Question 1.