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Volume 2
- Budget Development
- Financial Statements
- Capital Budget
- Appropriation Recommendations
- Appropriations - Chrome Users
- Agency Information
- Operating Transfers
- Local Aid - Section 3
- Outside Sections
- Tax Expenditure Budget
- Appendix A
- Appendix D
Corporate Excise Tax - All Detail
TAX EXPENDITURE | FY2011 |
FY2012 |
FY2013 |
FY2014 |
FY2015 |
---|---|---|---|---|---|
2.000 - Exclusions from Gross Income | 80.1 | 88.1 | 85.4 | 90.0 | 101.1 |
2.100 - Deferrals of Gross Income | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 |
2.200 - Deductions from Gross Income | 192.7 | 200.5 | 201.4 | 223.3 | 217.5 |
2.300 - Accelerated Deductions from Gross Income | 329.2 | 321.7 | 304.7 | 331.0 | 306.9 |
2.400 - Adjustments to Apportionment Formula | 310.3 | 323.2 | 324.6 | 360.1 | 350.9 |
2.500 - Exclusions from Property Component | 111.9 | 183.4 | 184.2 | 204.3 | 199.1 |
2.600 - Credits Against Tax | 423.1 | 457.0 | 509.7 | 583.4 | 560.8 |
2.700 - Entity Exempt from Taxation | 7.2 | 10.4 | 11.3 | 12.5 | 12.2 |
TAX EXPENDITURE | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
---|---|---|---|---|---|
Exclusions from Gross Income | 80.1 | 88.1 | 85.4 | 90.0 | 101.1 |
View tax item language
item | description | amount |
---|---|---|
Exclusions from Gross Income | 101.1 | |
2.001 | Small Business Corporations | 101.1 |
2.002 | Exemption of Income from the Sale, Lease or Transfer of Certain Patents | negligible |
TAX EXPENDITURE | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
---|---|---|---|---|---|
Deferrals of Gross Income | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 |
View tax item language
item | description | amount |
---|---|---|
Deferrals of Gross Income | 0.4 | |
2.101 | Deferral of Tax on Certain Shipping Companies | 0.4 |
TAX EXPENDITURE | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
---|---|---|---|---|---|
Deductions from Gross Income | 192.7 | 200.5 | 201.4 | 223.3 | 217.5 |
View tax item language
item | description | amount |
---|---|---|
Deductions from Gross Income | 217.5 | |
2.201 | Charitable Contributions and Gifts Deduction | 24.3 |
2.203 | Net Operating Loss (NOL) Carry-Forward | 192.3 |
2.204 | Excess Natural Resource Depletion Allowance | 0.9 |
2.205 | Deduction for Certain Dividends of Cooperatives | N.A. |
2.206 | Economic opportunity areas; tax deduction for renovation of abandoned buildings | Negligible |
TAX EXPENDITURE | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
---|---|---|---|---|---|
Accelerated Deductions from Gross Income | 329.2 | 321.7 | 304.7 | 331.0 | 306.9 |
View tax item language
item | description | amount |
---|---|---|
Accelerated Deductions from Gross Income | 306.9 | |
2.301 | Modified Accelerated Cost Recovery System on Rental Housing | 3.8 |
2.303 | Expenditures to remove architectural and transportation barriers to the handicapped and elderly | 0.3 |
2.304 | Election to Deduct and Amortize Business Start-up Costs | 0.6 |
2.305 | Modified Accelerated Cost Recovery System for Equipment | 199.5 |
2.306 | Deduction for Excess First-Year Depreciation | 2.9 |
2.307 | Modified Accelerated Depreciation on Buildings (other than Rental Housing) | 1.0 |
2.308 | Expensing Research and Development Expenditures in One Year | 97.4 |
2.309 | Expensing Exploration and Development Costs | 0.9 |
2.311 | Five-Year Amortization of Pollution Control Facilities | N.A. |
2.312 | Expensing of Alternative Energy Units | 0.4 |
2.313 | Seven-Year Amortization for Reforestation | 0.2 |
TAX EXPENDITURE | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
---|---|---|---|---|---|
Adjustments to Apportionment Formula | 310.3 | 323.2 | 324.6 | 360.1 | 350.9 |
View tax item language
item | description | amount |
---|---|---|
Adjustments to Apportionment Formula | 350.9 | |
2.401 | Unequal Weighting of Sales, Payroll, and Property in the Apportionment Formula | 350.9 |
TAX EXPENDITURE | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
---|---|---|---|---|---|
Exclusions from Property Component | 111.9 | 183.4 | 184.2 | 204.3 | 199.1 |
View tax item language
item | description | amount |
---|---|---|
Exclusions from Property Component | 199.1 | |
2.501 | Nontaxation of Certain Energy Property | N.A. |
2.502 | Exemption for Property Subject to Local Taxation | 199.1 |
TAX EXPENDITURE | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
---|---|---|---|---|---|
Credits Against Tax | 423.1 | 457.0 | 509.7 | 583.4 | 560.8 |
View tax item language
item | description | amount |
---|---|---|
Credits Against Tax | 560.8 | |
2.602 | Investment Tax Credit | 66.1 |
2.603 | Vanpool Credit | negligible |
2.604 | Research Credit | 188.9 |
2.605 | EDIP/Economic Development Incentive Program Credit | 24.0 |
2.606 | Credit for Employing Former Full-Employment Program Participants | Not Active |
2.607 | Harbor Maintenance Tax Credit | 1.6 |
2.608 | Brownfields Credit | 41.0 |
2.609 | Low Income Housing Credit | 73.5 |
2.610 | Historic Buildings Rehabilitation Credit | 40.8 |
2.614 | Film (or Motion Picture) Credit | 87.8 |
2.615 | Medical Device User Fee Credit | 0.5 |
2.616 | Devens Refundable Tax Credit | N.A. |
2.617 | Life Sciences Tax Incentive Program | 24.5 |
2.618 | Dairy Farmers Credit | 0.5 |
2.619 | Conservation Land Credit | $0.0 |
2.620 | Employer Wellness Program Tax Credit | 9.4 |
2.621 | Community Investment Tax Credit | 2.3 |
TAX EXPENDITURE | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
---|---|---|---|---|---|
Entity Exempt from Taxation | 7.2 | 10.4 | 11.3 | 12.5 | 12.2 |
View tax item language
item | description | amount |
---|---|---|
Entity Exempt from Taxation | 12.2 | |
2.701 | Exemption of Credit Union Income | 12.2 |
2.702 | Tax-Exempt Organizations | N.A. |
2.703 | Exemption for Regulated Investment Companies | N.A. |
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. |
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