Origin: The live theater tax credit program is administered by the Massachusetts Office of Business Development, in consultation with DOR. The credit is available to personal income and corporate excise taxpayers. The amount of the credit cannot exceed $7 million and is equal to (1) 35% is of the total in-state payroll costs; (2) 25% of production and performance expenditures; and (3) 25% of transportation expenditures. The credit is not refundable, but is transferrable. Any unused amount of credit may be carried forward to the next 5 taxable years. The annual amount of credits that can be authorized cannot exceed $7 million. The credit is effective for taxable years beginning on or after January 1, 2025 and expires on January 1, 2030.
Origin: M.G.L. c. 63, § 38QQ
Corporate Excise Tax
Credits Against Tax
2.633
Live Theater Credit
The live theater tax credit program is administered by the Massachusetts Office of Business Development, in consultation with DOR. The credit is available to personal income and corporate excise taxpayers. The amount of the credit cannot exceed $7 million and is equal to (1) 35% is of the total in-state payroll costs; (2) 25% of production and performance expenditures; and (3) 25% of transportation expenditures. The credit is not refundable, but is transferrable. Any unused amount of credit may be carried forward to the next 5 taxable years. The annual amount of credits that can be authorized cannot exceed $7 million. The credit is effective for taxable years beginning on or after January 1, 2025 and expires on January 1, 2030.
<a href="https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter63/Section38qq" target="_blank">M.G.L. c. 63, § 38QQ</a>
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3.5
