2.703 -Exemption for Regulated Investment Companies

Item	Description	FY2009	FY2010	FY2011
2.703	Exemption for Regulated Investment Companies Corporate Regulated Investment Companies are exempt from the corporate excise. The non-taxation of their net income and property creates tax expenditure. Origin: M.G.L. c. 63, S. 30 and 38B Estimate: N.A.	N.A.	N.A.	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.