Governor Deval Patrick's Budget Recommendation - House 1 Fiscal Year 2014

Deferrals of Gross Income


Fiscal Year 2014 Resource Summary (in Millions)
TAX EXPENDITURE FY2012 FY2013 FY2014
Deferrals of Gross Income 1.0 1.0 1.0

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item description amount
Deferrals of Gross Income 1.0
2.101 Deferral of Tax on Certain Shipping Companies
Certain companies with merchant marine capital construction funds receive up to a 25-year deferral of tax on that portion of their net income, which is set aside for construction, modernization, and major repair of ships.

Origin:  IRC, S. 7518
Estimate:  $1.0
 
1.0

Key:

ORIGIN  
IRCFederal Internal Revenue Code (26 U.S.C.)
M.G.L. Massachusetts General Laws
U.S.C United States Code
ESTIMATES All estimates are in $ millions.


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