Florida vs. Massachusetts Taxes
Massachusetts levies a 5% flat income tax, plus a 4% surtax on income above $1 million (the so-called "millionaire tax"). Florida applies neither, producing the largest absolute savings for high earners.
- State income tax: $0
- Federal income tax: $25,006
- FICA: $11,475
- State income tax: $7,223
- Federal income tax: $25,006
- FICA: $11,475
| Salary | Massachusetts state tax | Florida state tax | Annual savings |
|---|---|---|---|
| $100,000 | $4,723 | $0 | $4,723 |
| $150,000 | $7,223 | $0 | $7,223 |
| $200,000 | $9,723 | $0 | $9,723 |
| $500,000 | $24,723 | $0 | $24,723 |
| $1,000,000 | $49,723 | $0 | $49,723 |
At $150,000, MA state tax is approximately $7,000. At $1 million, the combined 5% + 4% surtax produces a tax bill north of $50,000 in MA — a Florida resident pays $0 of state income tax on the same income.
For Boston and Cambridge professionals weighing post-pandemic relocations, the millionaire-surtax math has accelerated outbound moves to Florida among partner-track lawyers, senior biotech executives, and finance professionals.
Frequently asked questions
Is the MA millionaire tax permanent?+
Yes — the 4% surtax above $1M was established by constitutional amendment in 2022 and applies on a per-year basis to income exceeding the indexed threshold.