Governor Charles D. Baker's Budget Recommendation - House 1 Fiscal Year 2016

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1.605 -Earned Income Credit

Item DescriptionFY2012 FY2013 FY2014 FY2015 FY2016
1.605 Earned Income Credit
Effective January 1, 1997, taxpayers were allowed a refundable credit against Massachusetts tax equal to 10% of the amount of the earned income credit claimed on their federal individual income tax returns. Effective January 1, 2001, the allowed percentage was increased to 15%. Note that, since the state credit amount is based on the federal, and changes, temporary or permanent, to the calculation of the federal credit will be automatically reflected in credit claims made against state tax. Note that while credit is refundable, it is not transferable.

Origin:  M.G.L. c. 62, S. 6(h)
Estimate:  $136.3
124.1 126.7 131.1 133.6 136.3


IRCFederal Internal Revenue Code (26 U.S.C.)
U.S.C United States Code
M.G.L. Massachusetts General Laws
Rev. Rul.; C.B. Revenue Ruling; Cumulative Bulletin of the U.S. Treasury
ESTIMATES All estimates are in $ millions.

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