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Deferrals of Gross Income
| TAX EXPENDITURE | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 |
|---|---|---|---|---|---|
| Deferrals of Gross Income | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 |
Hide tax item language
| item | description | amount |
|---|---|---|
| Deferrals of Gross Income | 0.8 | |
| 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, § 7518 Estimate: $0.8 |
0.8 |
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. |
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