Origin: Massachusetts provides dairy farmers a refundable personal income tax or corporate excise credit to offset cyclical downturns in milk prices. The credit is triggered when milk production costs exceed milk prices. The credit is determined by the Massachusetts Department of Agricultural Resources (MDAR), which notifies the Department of Revenue(DOR) of the amount of the credit awarded to each taxpayer. Effective January 1, 2023, the total cumulative value of the credits authorized pursuant to this section combined with M.G.L. c. 63, § 38Z is $8 million. These credits may not be sold or transferred to another taxpayer, but are fully refundable. See corporate item 2.618 for more details.
Origin: M.G.L. c. 62, § 6 (o)
Tax Type
Tax Expenditure
Item Number
Item Name
Description
Origin
FY2022
FY2023
FY2024
FY2025
FY2026
Personal Income Tax
Credits Against Tax
1.614
Dairy Farmer Tax Credit
Massachusetts provides dairy farmers a refundable personal income tax or corporate excise credit to offset cyclical downturns in milk prices. The credit is triggered when milk production costs exceed milk prices. The credit is determined by the Massachusetts Department of Agricultural Resources (MDAR), which notifies the Department of Revenue(DOR) of the amount of the credit awarded to each taxpayer. Effective January 1, 2023, 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">M.G.L. c. 63, § 38Z</a> is $8 million. These credits may not be sold or transferred to another taxpayer, but are fully refundable. See corporate item <a href="/tax-expenditure-budget/corporate-excise-tax/credits-against-tax/2-618">2.618</a> for more details.
<a href="https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter62/Section6" target="_blank">M.G.L. c. 62, § 6 (o)</a>
3.8
3.7
5.0
5.0
5.0
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