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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

StateMassachusetts
Effected JurisdictionMassachusetts
Jurisdiction type: State
Fiscal year ending In2018
Program nameEconomic Development Incentive Program
Program purpose: Job Creation/Retention
Statutory authority: M.G.L. c. 23A, § 3D
Abating jurisdiction(s): State of Massachusetts
Applicable taxesCorporate Excise Tax; Financial Institutions Tax; Insurance Premiums Tax; Personal Income Tax
Method of abatement: Tax Credit
Provisions for recapture: For projects certified on or after January 1, 2017, recapture is required only if the EACC revokes certification. The amount of credit subject to recapture shall be proportionate to the corporation’s job creation requirements applicable to the certified project.
Gross revenue loss: $52,170,000
Reimbursement / offset: $0
Net revenue loss: $52,170,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://www.macomptroller.org/annual-comprehensive-financial-reports/