Home > Tax Expenditure Budget > Summary > Corporate and Ohter Business Excise > Deductions from Gross Income > 2.206 - Economic opportunity areas; tax deduction for renovation of abandoned buildings

2.206 -Economic opportunity areas; tax deduction for renovation of abandoned buildings

Item	Description	FY2011	FY2012	FY2013	FY2014	FY2015
2.206	Economic opportunity areas; tax deduction for renovation of abandoned buildings Businesses renovating eligible buildings in Economic Opportunity Areas may deduct 10% of the costs of renovation from gross incomes. This deduction may be in addition to any other deduction for which the cost of renovation may qualify. To be eligible for this deduction, renovation costs must be related to buildings designated as abandoned by the Economic Assistance Coordinating Council. Origin: M.G.L. c. 63, S.38O Estimate: Negligible	Negligible	Negligible	Negligible	Negligible	Negligible

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.