Pursuant to G.L. c. 62 § 6(ff)(4) and c. 63 § 38QQ(d), a taxpayer may assign, transfer or convey Live Theater Tax Credits, in whole or in part, by sale or otherwise, to another individual or entity to offset up to 100 per cent of the assignee’s tax liabilities otherwise due. The assignee may apply the tax credits against taxes due for not more than five (5) succeeding tax years from the date an Initial Certificate is issued to the Eligible Theater Company initially approved for Live Theater Tax Credits.
Please be advised, transfer of credits will not occur until the Eligible Theater Company is issued a Final Certificate. Eligible Theater Company’s issued an Initial Certificate may notify the Department of Revenue (“DOR”) of their intent to transfer Live Theater Tax Credits upon receipt of a Final Certificate.
To transfer any unused amount of the Live Theater Tax Credit and/or distribute or assign any portion of the credit to your partners, members, owners, the Eligible Theater Company must complete a Form LTCTA (Live Theater Credit Transfer Application) on MassTaxConnect. Please go to MassTaxConnect to submit your transfer application to DOR. Should you have any transfer questions, please contact the Department of Revenue at Credits@dor.state.ma.us or call at 617-887-6970.