More Taxation news More news in Massachusetts Find Taxation lawyers in Massachusetts
On November 13, 2025, Massachusetts Governor announced new tax relief measures aimed at helping small businesses recover from the economic challenges brought on by the COVID-19 pandemic. The measures include a reduction in the state's corporate tax rate and an expansion of the state's small business tax credit program.According to Governor, the state's corporate tax rate will be reduced from 8% to 7% over the next three years, providing much-needed relief to businesses struggling to stay afloat in the current economic climate. This reduction is expected to save businesses millions of dollars in taxes each year, allowing them to reinvest in their operations and employees.In addition to the corporate tax rate reduction, the state is also expanding its small business tax credit program. This program provides tax credits to businesses with fewer than 50 employees that are located in designated economically distressed areas. The expansion of the program will allow more businesses to qualify for these credits, providing them with additional financial support during these challenging times.Governor emphasized the importance of supporting small businesses in Massachusetts, highlighting their vital role in the state's economy. He stated, "Small businesses are the backbone of our economy, and it is crucial that we give them the support they need to thrive. These tax relief measures will provide much-needed assistance to small businesses as they work to recover and rebuild in the wake of the pandemic."The announcement of these tax relief measures has been met with positive reactions from small business owners across the state. Many business owners have expressed gratitude for the support from the state government, stating that these measures will help them stay afloat and continue to serve their communities.Overall, the new tax relief measures in Massachusetts are expected to provide significant support to small businesses and help stimulate economic growth in the state. By reducing the corporate tax rate and expanding the small business tax credit program, the state is taking proactive steps to ensure the resilience and success of its small business community.