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Massachusetts Brownfields Tax Credit | Sullivan & Worcester

To embed, copy and paste the code into your website or blog: In a bid to rehabilitate the Brownfields Tax Credit ( BTC ) application and approval process, the Massachusetts Department of Revenue ( DOR ) has issued final regulations (830 CMR 63.38Q.1) and new administrative procedures (AP 636) governing credit applications received on or after July 9, 2021. These are expected to be promulgated and become official on July 23, 2021. They bring to a close a lengthy review process that began with a working draft in Spring 2020, followed by proposed regulations in January 2021. The Massachusetts BTC is a non-refundable tax credit allowed to “Eligible Persons,”[1] as defined under the Massachusetts Oil and Hazardous Material Release Prevention and Response Act (Mass. Gen. Laws Ch. 21E), for a percentage of costs incurred in achieving a permanent solution (or remedy operation status) in remediating contaminated property that is owned or leased for business purposes and also is located

SALT Cap Workaround and Other Tax Provisions in the Pending Massachusetts FY22 Budget | Sullivan & Worcester

To embed, copy and paste the code into your website or blog: On Friday, July 9, the Massachusetts Legislature voted in favor of the Conference Committee’s revised fiscal year 2022 (FY22) budget bill, House No. 4002[1] (budget bill). The Governor has until Monday, July 19 to either approve or veto the budget. As a part of that process, the Governor may veto or reduce specific line items, veto outside sections, or submit proposed amendments for further consideration by the Legislature. Though the budget bill does not propose any broad tax increases, it includes several notable tax provisions, including among others: converting the child care tax deduction into a refundable credit;[2] creating a new employment tax credit for employers that hire disabled workers;[3] eliminating the income tax deduction for charitable contributions through 2022;[4] eliminating the sunset date of the film tax credit while requiring production companies to expend additional time and resources in Massac

The Supreme Court Missed a Great Chance to Protect Remote Workers

The Supreme Court Missed a Great Chance to Protect Remote Workers
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