Quick Links
Volume 1
Volume 2
- Budget Development
- Financial Statements
- Capital Budget
- Appropriation Recommendations
- Agency Information
- Operating Transfers
- Local Aid - Section 3
- Outside Sections
- Tax Expenditure Budget
- Appendix A
- Appendix D
Deferrals of Gross Income
| TAX EXPENDITURE | FY2012 | FY2013 | FY2014 |
|---|---|---|---|
| Deferrals of Gross Income | 1.0 | 1.0 | 1.0 |
| item | description | amount |
|---|---|---|
| Deferrals of Gross Income | 1.0 | |
| 2.101 |
Deferral of Tax on Certain Shipping Companies
Certain companies with merchant marine capital construction funds 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: IRC, S. 7518 Estimate: $1.0 |
1.0 |
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