Quick Links
Volume 1
- Budget Message
- Issues in Brief
- Budget Recommendations
- Local Aid to Cities and Towns
- Capital Budget and Debt
Volume 2
- Budget Development
- Financial Statements
- Appropriation Recommendations
- Operating Transfers
- Local Aid - Section 3
- Outside Sections
- Tax Expenditure Budget
- Appendix A
- Glossary
2.206 -Economic opportunity areas; tax deduction for renovation of abandoned buildings
Item | Description | FY2011 | FY2012 | FY2013 |
---|---|---|---|---|
2.206 | Economic opportunity areas; tax deduction for renovation of abandoned buildings
Businesses renovating eligible buildings in Economic Opportunity Areas may deduct 10% of the cost of renovation from gross income. This deduction may be in addition to any other deduction for which the cost of renovation may qualify. To be eligible for this deduction, renovation costs must relate to buildings designated as abandoned by the Economic Assistance Coordinating Council. Origin: IRC, S. 613, 613A ; M.G.L. c. 63, S.38O Estimate: Negligible |
Negligible | Negligible | Negligible |
Key:
ORIGIN | |
IRC | Federal Internal Revenue Code (26 U.S.C.) |
---|---|
M.G.L. | Massachusetts General Laws |
U.S.C | United States Code |
ESTIMATES | All estimates are in $ millions. |
top of page