Thanks in part to the work of partner and REBA president Noel Di Carlo, the Massachusetts Department of Revenue extended the leniency period for attorneys to comply with the brand new Non-Resident Withholding Regulations.
The new state withholding regulations means that if you're selling property in Massachusetts for $1 million or more, the DOR may be entitled to withhold a portion of the sale proceeds (typically between 4%-8%) at closing if you are a non-MA resident. While MA residents are exempt, any sale over $1 million must still be reported to the DOR.
This leniency period has been extended through Dec. 31st, 2025.