TITLE: 830 CMR 62.6.4: Conservation Land Tax Credit

REGULATORY HISTORY:  Regulation promulgated 3/30/12

SUMMARY OF REGULATION:  The purpose of 830 CMR 62.6.4 is to explain the calculation of the tax credit allowed for qualified donations of certified land to a public or private conservation agency, codified at G.L. c. 62, § 6(p) and G.L. c. 63, § 38AA.  The credit is equal to 50% of the fair market value of the qualified donation.  The amount of the credit that may be claimed by a taxpayer for each qualified donation cannot exceed $50,000.  The credit is refundable but not transferable.  The total cumulative value of all the credits authorized may not exceed $2,000,000 annually.  The credit is available to both chapter 62 (taxpayers subject to the personal income tax) and 63 (corporate) taxpayers.

The regulation implements the statutory provisions of G.L. c. 62, § 6(p) and G.L. c. 63, § 38AA, which allow taxpayers subject to the personal income tax and taxpayers subject to the corporate excise, respectively, to claim a tax credit for qualified donations of certified land to a public or private conservation agency.  The making of a qualified donation is strictly voluntary as is the receipt of a qualified donation by a public or private conservation agency.  No small businesses are expected to be impacted by this regulation.  No projected reporting, record keeping, or other administrative costs directed at small businesses have been identified as required for compliance with the provisions of this regulation.  Additionally, the regulation does not contain design or performance standards directed at small businesses and does not duplicate or conflict with other regulations of the Department of Revenue (“Department”).  The Department has not identified any regulations of other agencies that conflict with this regulation.  In particular, the regulation does not conflict with the regulation the Executive Office of Energy and Environmental Affairs (“EEA”) promulgated at 301 CMR 14.00.  EEA is responsible for certifying that a qualified donation has actually been made.  Their regulation sets forth criteria for authorizing and certifying the credit.  And finally, the regulation is likely to neither deter nor encourage the formation of new businesses, small or otherwise, in the Commonwealth.

Massachusetts Department of Revenue
Rulings and Regulations Bureau
100 Cambridge Street, 7th Floor
Boston, Massachusetts 02114
(617) 626-3250
FAX: (617) 626-3290

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