EMAC Supplement Tax Credit 3

SECTION 58.   A taxpayer may claim a credit in a taxable year pursuant to subsection (u) of section 6 of chapter 62 of the General Laws, as inserted by section 29, or section 38GG of chapter 63 of the General Laws, as inserted by section 30, but not both. Any EMAC supplement or employer shared responsibility payment may not be taken into account in calculating more than 1 credit by a taxpayer or combination of taxpayers. The terms used in this section shall have the meanings defined in said subsection (u) of said section 6 of said chapter 62 and said section 38GG of said chapter 63.
 
 

Summary:
This section, along with two companion sections, allows an employer who is required, in the same taxable year, to pay both the Employer Shared Responsibility Payment to the federal government for Massachusetts employees and the EMAC Supplement to the Commonwealth, to claim a refundable tax credit.