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)
Tax Type
Tax Expenditure
Item Number
Item Name
Description
Origin
FY2017
FY2018
FY2019
FY2020
FY2021
Corporate Excise Tax
Exclusions from Property Component
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.<BR><BR>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.
<a href="https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter63/Section30" target="_blank">M.G.L. c. 63, § 30(7)</a>
348.1
365.5
383.7
402.9
423.1
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