Massachusetts Business Tax Credits

Here you will find an alphabetical listing of Massachusetts business tax credits which can affect your financial bottom line.

Updated: March 11, 2024

A-D

• Apprenticeship Tax Credit –  Your business may be eligible for this tax credit if you employ an apprentice and are part of the healthcare, tech, or manufacturing sectors in Massachusetts. 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.

• Cranberry Bog Tax Credit: Learn about the refundable tax credit available to Massachusetts cranberry farmers.

• 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.
• Disability Employment Tax Credit: If your business hires qualified employees with a disability, you maybe eligible for a tax credit.  

E-H

• Economic Development Incentive Program Credit (EDIPC) – The EDIPC is a tax incentive credit awarded 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 – You may be eligible if your business occupies a previously vacant storefront. 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.

I-L

• Investment Tax Credit – Corporation may earn the credit for the purchase or lease of qualifying tangible property. You may be eligible if your business is a manufacturing, research and development, agricultural, or commercial fishing corporation.
   
• Lead Paint Removal Credit – You can get a tax credit if you own residential property in Massachusetts and paid for de-leading (removing or covering lead paint).
   
• 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.

M-Q

• Medical Device Credit – Learn about a medical device credit that is equal to 100% of the user fees paid.

R-U

• 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.
     

• Septic System Credit (Title V) – If you are not a dependent of another taxpayer, own residential property in Massachusetts, and occupy the residential property as your principal residence, you're allowed a credit for expenses you paid to:

  • Repair or replace a failed cesspool or septic system to comply with state sewer system requirements
  • Connect to a municipal sewer system to follow a federal court order, administrative consent order, state court order, consent decree, or similar mandate.

V-Z

• Vanpool Credit – May be available for your corporation if you incurred expenses related to your vehicle.
   
• Veteran's Hire Credit – If your business hires veterans, you may be eligible for a tax credit. For more information visit TIR 7-10.