"An Act relative to economic development in the commonwealth" (St. 2018, c. 228) established the apprentice credit for individual and corporate taxpayers for tax years beginning on or after January 1, 2019. The credit is awarded to employers, who are (i) registered with the division of apprentice standards as apprenticeship program sponsors and (ii) enter into an apprentice agreement with each apprentice for whom the credit is claimed. Employers that claim the credit in a taxable year will be eligible for an additional credit in the following year if they continue to employ the apprentice during the subsequent year.
The credit is equal to the lesser of $4,800 or 50% of the wages paid to the apprentice for each apprentice. The total cumulative amount of credits authorized annually is $2.5 million. The credit is refundable and nontransferable.
Origin: St. 2018, c. 228; M.G.L. c. 63, § 38HH
Corporate Excise Tax
Credits Against Tax
2.624
Apprentice Credit
"An Act relative to economic development in the commonwealth" (<a href="https://malegislature.gov/Laws/SessionLaws/Acts/2018/Chapter228" target="_blank">St. 2018, c. 228</a>) established the apprentice credit for individual and corporate taxpayers for tax years beginning on or after January 1, 2019. The credit is awarded to employers, who are (i) registered with the division of apprentice standards as apprenticeship program sponsors and (ii) enter into an apprentice agreement with each apprentice for whom the credit is claimed. Employers that claim the credit in a taxable year will be eligible for an additional credit in the following year if they continue to employ the apprentice during the subsequent year.<BR><BR>The credit is equal to the lesser of $4,800 or 50% of the wages paid to the apprentice for each apprentice. The total cumulative amount of credits authorized annually is $2.5 million. The credit is refundable and nontransferable.
<a href="https://malegislature.gov/Laws/SessionLaws/Acts/2018/Chapter228" target="_blank">St. 2018, c. 228</a>; <a href="https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter63/Section38HH" target="_blank">M.G.L. c. 63, § 38HH</a>
N.A.
1.3
1.3
1.3
1.3
