Business Tax Credits

Updated: January 19, 2023

Depending on how your business is organized, business tax credits can be claimed either through your personal income tax or corporate excise return. Include Schedule CMS when you file.

• Apprenticeship Tax Credit –  For more information visit TIR 18-13.
  • Please note: This credit may be partially or fully refundable. See Schedule CMS instructions for further information.
     
• Brownfields Tax Credit (BTC) – Learn about the credit for cleaning up contaminated property.
   
• Certified Housing Development Tax Credit (CHDC) – Learn about credits for investing in housing development projects in Massachusetts.
   
• Community Investment Tax Credit (CITC) – Learn about the refundable tax credit for taxpayers and businesses that make cash contributions to investment projects. 
  • Please note: This credit may be partially or fully refundable. See Schedule CMS instructions for further information.
     
• Conservation Land Tax Credit (CLTC) – Learn about the refundable credit for donations of land to a conservation agency in Massachusetts. 
  • Please note: This credit may be partially or fully refundable. See Schedule CMS instructions for further information.
     
• Dairy Farmer Tax Credit – Learn about a tax credit available to Massachusetts dairy farmers. 
  • Please note: This credit may be partially or fully refundable. See Schedule CMS instructions for further information.
     
• Economic Development Incentive Program Credit (EDIPC) – The EDIPC is a tax incentive credit to create and stimulate business in Massachusetts. 
  • Please note: This credit may be partially or fully refundable. See Schedule CMS instructions for further information.
     
• EDIP: Vacant Storefront Credit – For more information visit TIR 18-13.
  • Please note: This credit may be partially or fully refundable. See Schedule CMS instructions for further information.
     
• Economic Opportunity Area Credit (EOAC) – Learn how businesses can receive a credit for certified projects.
   
• Employer Wellness Program Credit (EWPC) – Learn about a credit for employers that implement a “certified wellness program” for its employees.
   
• Farming and Fisheries Tax Credit – Learn about the personal income tax credit for individuals engaged in agriculture, farming, or commercial fishing.
   
• Film Incentive Tax Credit – Learn about the tax incentives credits for motion pictures produced in Massachusetts.
  • Please note: This credit may be partially or fully refundable. See Schedule CMS instructions for further information.
     
• Harbor Maintenance Tax Credit – This credit is for taxpayers who paid the federal harbor maintenance tax (HMT).
   
• Historic Rehabilitation Tax Credit – Learn how to receive a credit for the rehabilitation of a historic structure.
   
• Investment Tax Credit – Your corporation may earn the credit for the purchase or lease of qualifying tangible property. Learn if you qualify. 
   
• Life Sciences Credits – Learn about the 5 tax credits and incentives available to certified life science companies. 
  • Please note: These credits may be partially or fully refundable. See Schedule CMS instructions for further information.
     
• Low Income Housing Tax Credit (LIHTC) – May be available to individual taxpayers, partnerships, and corporations that invest in qualified low-income housing projects in Massachusetts.
   
• Medical Device Credit – Learn about a medical device credit that is equal to 100% of the user fees paid.
   
• Research Credit – May be available for your corporation if you incurred research expenses. 
  • Please note: This credit may be partially or fully refundable. See Schedule CMS instructions for further information.
     
• Vanpool Credit – May be available for your corporation if you incurred expenses related to your vehicle.
   
• Veteran's Hire Credit – Fore more information visit TIR 7-10.