The CLTC may be available to personal income and corporate excise taxpayers that make qualified donations of certified land to a public or private conservation agency in Massachusetts.
The current yearly cap of the CLTC is $2,000,000.
The Executive Office of Energy and Environmental Affairs (EEA) determines:
- Which donations qualify for the CLTC
- The actual amount of the CLTC.
The CLTC is equal to 50% of the fair market value of the donated certified land but may not exceed $75,000.
Carryover, Refund, and Transfer
The CLTC is refundable but not transferable.
Taxpayers who claim the CLTC may not claim any other credit or deduction in the same tax year for the costs related to the same donated, certified land.
For more detailed information, including important definitions, please see:
- Massachusetts General Laws Chapter 62, Section 6(p) (Personal income)
- Massachusetts General Laws Chapter 63, Section 38AA (Corporate excise)
- 830 CMR 62.6.4
- 301 Code of Massachusetts Regulations 14.00.