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Corporate Excise Tax - All Detail
TAX EXPENDITURE | FY2013 |
FY2014 |
FY2015 |
FY2016 |
FY2017 |
---|---|---|---|---|---|
2.000 - Exclusions from Gross Income | 86.1 | 84.9 | 87.7 | 90.7 | 91.7 |
2.100 - Deferrals of Gross Income | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 |
2.200 - Deductions from Gross Income | 166.5 | 169.5 | 177.1 | 189.5 | 195.1 |
2.300 - Accelerated Deductions from Gross Income | 358.9 | 367.4 | 398.9 | 411.4 | 414.2 |
2.400 - Adjustments to Apportionment Formula | 355.2 | 360.0 | 364.8 | 369.7 | 374.7 |
2.500 - Exclusions from Property Component | 228.8 | 244.9 | 261.4 | 279.1 | 298.0 |
2.600 - Credits Against Tax | 450.6 | 449.5 | 538.4 | 561.9 | 578.1 |
2.700 - Entity Exempt from Taxation | 5.1 | 4.4 | 4.9 | 5.1 | 5.4 |
TAX EXPENDITURE | FY2013 | FY2014 | FY2015 | FY2016 | FY2017 |
---|---|---|---|---|---|
Exclusions from Gross Income | 86.1 | 84.9 | 87.7 | 90.7 | 91.7 |
View tax item language
item | description | amount |
---|---|---|
Exclusions from Gross Income | 91.7 | |
2.001 | Small Business Corporations | 91.7 |
2.002 | Exemption of Income from the Sale, Lease or Transfer of Certain Patents | $0.0 |
TAX EXPENDITURE | FY2013 | FY2014 | FY2015 | FY2016 | FY2017 |
---|---|---|---|---|---|
Deferrals of Gross Income | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 |
View tax item language
item | description | amount |
---|---|---|
Deferrals of Gross Income | 0.9 | |
2.101 | Deferral of Tax on Certain Shipping Companies | 0.9 |
TAX EXPENDITURE | FY2013 | FY2014 | FY2015 | FY2016 | FY2017 |
---|---|---|---|---|---|
Deductions from Gross Income | 166.5 | 169.5 | 177.1 | 189.5 | 195.1 |
View tax item language
item | description | amount |
---|---|---|
Deductions from Gross Income | 195.1 | |
2.201 | Charitable Contributions and Gifts Deduction | 23.0 |
2.203 | Net Operating Loss (NOL) Carry-Forward | 170.3 |
2.204 | Excess Natural Resource Depletion Allowance | 1.8 |
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 | FY2013 | FY2014 | FY2015 | FY2016 | FY2017 |
---|---|---|---|---|---|
Accelerated Deductions from Gross Income | 358.9 | 367.4 | 398.9 | 411.4 | 414.2 |
View tax item language
item | description | amount |
---|---|---|
Accelerated Deductions from Gross Income | 414.2 | |
2.301 | Modified Accelerated Cost Recovery System on Rental Housing | 4.4 |
2.303 | Expenditures to Remove Architectural and Transportation Barriers to the Handicapped and Elderly | 0.4 |
2.304 | Election to Deduct and Amortize Business Start-up Costs | 0.4 |
2.305 | Modified Accelerated Cost Recovery System for Equipment | 263.0 |
2.306 | Deduction for Excess First-Year Depreciation | 9.2 |
2.307 | Modified Accelerated Depreciation on Buildings (other than Rental Housing) | 1.7 |
2.308 | Expensing Research and Development Expenditures in One Year | 132.1 |
2.309 | Expensing Exploration and Development Costs | 1.2 |
2.311 | Five-Year Amortization of Pollution Control Facilities | 1.5 |
2.312 | Expensing of Alternative Energy Units | Not Active |
2.313 | Seven-Year Amortization for Reforestation | 0.3 |
TAX EXPENDITURE | FY2013 | FY2014 | FY2015 | FY2016 | FY2017 |
---|---|---|---|---|---|
Adjustments to Apportionment Formula | 355.2 | 360.0 | 364.8 | 369.7 | 374.7 |
View tax item language
item | description | amount |
---|---|---|
Adjustments to Apportionment Formula | 374.7 | |
2.401 | Unequal Weighting of Sales, Payroll, and Property in the Apportionment Formula | 374.7 |
TAX EXPENDITURE | FY2013 | FY2014 | FY2015 | FY2016 | FY2017 |
---|---|---|---|---|---|
Exclusions from Property Component | 228.8 | 244.9 | 261.4 | 279.1 | 298.0 |
View tax item language
item | description | amount |
---|---|---|
Exclusions from Property Component | 298.0 | |
2.501 | Nontaxation of Certain Energy Property | Not Active |
2.502 | Exemption for Property Subject to Local Taxation | 298.0 |
TAX EXPENDITURE | FY2013 | FY2014 | FY2015 | FY2016 | FY2017 |
---|---|---|---|---|---|
Credits Against Tax | 450.6 | 449.5 | 538.4 | 561.9 | 578.1 |
View tax item language
item | description | amount |
---|---|---|
Credits Against Tax | 578.1 | |
2.602 | Investment Tax Credit | 66.4 |
2.603 | Vanpool Credit | Negligible |
2.604 | Research Credit | 208.8 |
2.605 | EDIP/Economic Development Incentive Program Credit | 19.2 |
2.606 | Credit for Employing Former Full-Employment Program Participants | Not Active |
2.607 | Harbor Maintenance Tax Credit | 1.2 |
2.608 | Brownfields Credit | 36.6 |
2.609 | Low Income Housing Credit | 89.0 |
2.610 | Historic Buildings Rehabilitation Credit | 46.6 |
2.614 | Film (or Motion Picture) Credit | 77.9 |
2.615 | Medical Device User Fee Credit | 1.1 |
2.617 | Life Sciences Tax Incentive Program | 20.8 |
2.618 | Dairy Farmers Credit | $0.0 |
2.619 | Conservation Land Credit | $0.0 |
2.620 | Employer Wellness Program Tax Credit | 7.5 |
2.621 | Community Investment Tax Credit | 3.0 |
TAX EXPENDITURE | FY2013 | FY2014 | FY2015 | FY2016 | FY2017 |
---|---|---|---|---|---|
Entity Exempt from Taxation | 5.1 | 4.4 | 4.9 | 5.1 | 5.4 |
View tax item language
item | description | amount |
---|---|---|
Entity Exempt from Taxation | 5.4 | |
2.701 | Exemption of Credit Union Income | 5.4 |
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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