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InfiniteState t1_iuab31t wrote

Reply to comment by NoMoLerking in Mass. Tax Refunds Will Start To Flow On Tuesday by plawwell

Q 1 is forward looking and would start in the 2022 tax year at the earliest. The refunds are for what people already paid.

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NoMoLerking t1_iuac3l8 wrote

And if we collect too much revenue once again?

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Chikeerafish t1_iuafgpm wrote

The last time we collected too much taxes was over 30 years ago. Knowing we have more tax money between getting extra this year and the extra from Q1 they will budget accordingly and we will have more money to spend on improving education, infrastructure, and other things to improve the quality of life for residents.

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NoMoLerking t1_iuafzug wrote

Doesn’t work that way.

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BigToeJob t1_iuapsw3 wrote

Not that you know how it works

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NoMoLerking t1_iuat4qi wrote

I mean…I sort of do.

>Chapter 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.

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