The income tax rate in Massachusetts is 5.10%. That rate applies equally to all taxable income. Unlike with the federal income tax, there are no tax brackets in Massachusetts.How does the 0% tax rate work on capital gains?
The 0% long-term capital gains tax rate has been around since 2008, and it lets you take a few steps to realize tax-free earnings on your investments. 1 Harvesting capital gains is the process of intentionally selling an investment in a year when any gain won't be taxed. This occurs in years when you're in the 0% capital gains tax bracket. 2