Governor Charles D. Baker's Budget Recommendation - House 1 Fiscal Year 2018

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Exclusions from Property Component

Fiscal Year 2018 Resource Summary (in Millions)
TAX EXPENDITURE FY2014 FY2015 FY2016 FY2017 FY2018
Exclusions from Property Component 273.7 299.6 303.1 324.3 347.0

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item description amount
Exclusions from Property Component 347.0
2.501 Nontaxation of Certain Energy Property
Tangible property qualifying for the deduction for expenditures for alternative energy described in item 2.312 is not subject to taxation under the tangible property measure of the corporate excise.

Origin: M.G.L. c. 63, § 38H(f)
Estimate:  Not Active

Not Active
2.502 Exemption for Property Subject to Local Taxation
In computing the state corporate excise on tangible property, property subject to tax at the local level is exempt. Generally, the state taxes only the machinery of manufacturing corporations and exempts business real estate and tangible personal property.

For purposes of estimating revenue loss from this tax expenditure, the state's non-income measure rate on property, $2.60 per $1,000, has been applied.

Origin: M.G.L. c. 63, § 30(7)
Estimate:   $347.0 		347.0

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.

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