Related to:

830 CMR 63.38N.1: Reg Fact Sheet

Date: 07/13/2007
Organization: Massachusetts Department of Revenue
Regulatory Authority: Massachusetts General Laws
Official Version: Published by the Massachusetts Register

MASSACHUSETTS DEPARTMENT OF REVENUE REGULATION FACT SHEET

 

TITLE: 830 CMR 63.38N.1: Economic Opportunity Area Credit

SUMMARY OF REGULATION

830 CMR 63.38N.1: Economic Opportunity Area Credit Regulation
 

  • defines relevant terms;
  • explains the general rules for availability of the credit;
  • explains what taxpayers are eligible for the credit;
  • explains what property is eligible for the credit;
  • explains what costs are eligible for the credit;
  • explains how to calculate the credit;
  • explains limitations on the credit;
  • explains the rules for carry over of the credit;
  • explains the rules for recapture of the credit;
  • explains how unincorporated flow-through entities claim the credit;
  • explains rules for availability of the credit for S corporations or their shareholders;
  • explains how combine groups may share the credit; and
  • sets forth rules for controlled groups and entities under common control.

SUMMARY OF REGULATION AMENDMENT/REASON FOR CHANGE

830 CMR 63.38N.1: Economic Opportunity Area Credit Regulation amendments do the following: add several necessary definitions in section (2); delete an obsolete statutory reference in section (4)(b); clarify in section (6) that the notice to the municipality triggering the credit must be in writing; and rewrite the recapture provisions in section (11) to clarify them.

REGULATORY HISTORY

Regulation Promulgated: 11/13/1998
Regulation Amended: 7/13/2007

PREPARED BY

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

Feedback

Did you find what you were looking for on this webpage? * required
We use your feedback to help us improve this site but we are not able to respond directly. Please do not include personal or contact information. If you need a response, please locate the contact information elsewhere on this page or in the footer.
We use your feedback to help us improve this site but we are not able to respond directly. Please do not include personal or contact information. If you need a response, please locate the contact information elsewhere on this page or in the footer.

If you need to report child abuse, any other kind of abuse, or need urgent assistance, please click here.

Tell us what you think