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Bill

HD 200

An Act relative to the state tax return filings for annuities

194th Legislature (2025-2026) Introduced by Hannah Kane and 2 co-sponsors

Bill modifies Massachusetts tax filing requirements for annuities, potentially affecting how annuity income is reported and taxed by individuals and financial institutions.

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WeVote Research Nonpartisan
Bill Summary · HD 200

Legislative bill overview

HD 200 modifies Massachusetts state tax return filing requirements specifically for annuity products and their holders. The bill addresses how annuity income is reported and taxed at the state level, potentially simplifying or restructuring the current filing process for affected taxpayers and financial institutions.

Why is this important

Annuities are significant retirement and investment vehicles for many Massachusetts residents, and tax filing requirements directly affect both individual taxpayers and insurance companies administering these products. Changes to filing procedures can reduce compliance costs, improve tax collection accuracy, or shift administrative burdens between parties, making this relevant to retirement planning and state revenue.

Potential points of contention

  • Compliance burden allocation: Whether the filing requirements shift responsibility from individual taxpayers to financial institutions, potentially increasing costs for insurance companies
  • Revenue implications: Concerns about whether modified filing rules could affect state tax collection accuracy or create loopholes in annuity income reporting
  • Retroactive application: Uncertainty about whether changes apply to existing annuity contracts or only new ones, affecting fairness to current holders

Compiled from official sources — confirm details with the bill’s official record.

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