DOR Releases Second Annual Massachusetts Tax Credit Transparency Report
Information on Thirteen Tax Credits Detailed
(Boston, MA) - Massachusetts Revenue Commissioner Amy Pitter today announced the release of the annual Massachusetts Tax Credit Transparency Report, a hallmark of the Patrick Administration’s initiative to make government spending more accessible to the general public by providing information on thirteen tax credits awarded or issued during calendar year 2012.
“This is an important overview of nearly $160 million worth of tax credits in a user-friendly format which taxpayers can easily access on our website or on the state’s ‘Open Checkbook’,” said Commissioner Pitter. “Reports like these help taxpayers understand how their tax dollars are being spent and hold government more accountable in managing public funds.”
This is the second year the Department of Revenue has published the identities of recipients and the amount of their award for tax credit programs including: the Film Tax Credit, Historic Rehabilitation Tax Credit, Low-Income Housing Tax Credit, Brownfields Tax Credit, Medical Device Company Tax Credit, Dairy Farmer Tax Credit, Life Sciences Tax Incentive Programs-(Investment Tax Credit, User Fees Credit, Jobs Credit and Research Credit), Economic Development Incentive Program, Certified Housing Development Tax Credit and Conservation Land Tax Credit.
The Department of Revenue also updated the 2011 Tax Credit Transparency report to include the credit awards or issuance to taxpayers whose applications may have been pending at the time the previous report was released last June.
You can find both the 2012 and 2011 Tax Credit Transparency Reports here or see below.