2.500 Exclusions from Property Component

Exclusions from Property Component

2.500

348.1

365.5

383.7

402.9

423.1

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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.

M.G.L. c. 63, § 38H(f)

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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.

M.G.L. c. 63, § 30(7)

423.1

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