2.101 -Deferral of Tax on Certain Shipping Companies

Item	Description	FY2009	FY2010	FY2011
2.101	Deferral of Tax on Certain Shipping Companies Certain shipping companies receive up to a 25-year deferral of tax on that portion of their net income, which is set aside for construction, modernization, and major repair of ships. Origin: 46 U.S.C. S. 1177 and IRC S. 7518 Estimate: $0.1	0.1	0.1	0.1

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.