A taxpayer who holds a certificate of registration as a dairy farmer pursuant to section 16A of chapter 94 may be allowed a refundable income tax credit based on the amount of milk produced and sold. The total cumulative value of the credits authorized pursuant to this section combined with section 38Z of chapter 63, originally $4 million annually, was increased from $4 million to $6 million each year by Ch. 154 (H.B. 4800), Laws 2018, effective July 1, 2018. See corporate item 2.618 for more details. These credits may not be sold or transferred to another taxpayer, but are refundable at 100% of face value.
Origin: M.G.L. c. 62, § 6 (o)
Tax Type
Tax Expenditure
Item Number
Item Name
Description
Origin
FY2020
FY2021
FY2022
FY2023
FY2024
Personal Income Tax
Credits Against Tax
1.614
Dairy Farmer Credit
A taxpayer who holds a certificate of registration as a dairy farmer pursuant to <a href="https://malegislature.gov/Laws/GeneralLaws/PartI/TitleXV/Chapter94/Section16A" target="_blank">section 16A of chapter 94</a> may be allowed a refundable income tax credit based on the amount of milk produced and sold. The total cumulative value of the credits authorized pursuant to this section combined with <a href="https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter63/Section38Z" target="_blank">section 38Z of chapter 63</a>, originally $4 million annually, was increased from $4 million to $6 million each year by <a href="https://malegislature.gov/Laws/SessionLaws/Acts/2018/Chapter154" target="_blank">Ch. 154 (H.B. 4800), Laws 2018</a>, effective July 1, 2018. See corporate item <a href="/tax-expenditure-budget/corporate-excise-tax/credits-against-tax/2-618">2.618</a> for more details. These credits may not be sold or transferred to another taxpayer, but are refundable at 100% of face value.
<a href="https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter62/Section6" target="_blank">M.G.L. c. 62, § 6 (o)</a>
4.7
4.7
4.6
4.6
4.6
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