Massachusetts’ many tax credits and attempts at bringing them to light.
A PANEL DISCUSSION exploring the benefits of the state’s film tax credit turned into a press conference of sorts on Tuesday when a couple of the panelists disclosed new series coming to shoot in Massachusetts. Gary Crossen, the general manager of New England Studios in Devens, said Netflix will be filming a series at his(...)
Film tax credit economic benefits flow primarily to Greater Boston
NEW BEDFORD MAYOR JON MITCHELL thinks his city, with its gritty harbor, its cobblestoned streets, its mill buildings, and its sweeping ocean views, has Hollywood appeal. Hollywood also appeals to him, not because he has any red carpet aspirations himself, but because of what he thinks a movie or a TV series could do for(...)
Bonehead move, or smart money-saving strategy?
LEAF THROUGH THE LIST of recipients of Massachusetts film tax credits and one name comes up year after year: the Connecticut Lottery. One might think the lottery, created by the state of Connecticut, would want to do business as much as possible with companies in Connecticut. In a way, that’s the whole point of the(...)
Automatic audits of some recipients are onerous
IN THE MIDST of new proposals for a major tax system overhaul, there’s one tax policy almost everyone agrees has been highly effective: the Earned Income Tax Credit. It delivers significant financial relief to working families while providing financial incentive to work. In 2015, the average credit was $3,186 for families with children. How disappointing,(...)
Rep calls film tax credit "a boondoggle'
STATE HOUSE NEWS SERVICE THE MASSACHUSETTS HOUSE on Monday shot down proposals to increase the gas tax and put a cap on the state’s film tax credit program as they began to dispense with more than 1,300 amendments to the annual state budget bill. The House swiftly took care of more than 30 revenue-related amendments(...)
Agree to boost EITC and suspend Pacheco law for 3 years at T
HOUSE AND SENATE NEGOTIATORS broke their deadlock on the fiscal 2016 budget Tuesday night by finding a novel way to fund an expansion of a tax credit that benefits low-income workers and by suspending so-called Pacheco law regulations at the MBTA for three years. The agreement was unveiled at 8 pm Tuesday night, a week(...)
By Bruce Mohl The Massachusetts House voted Wednesday night to create a budget website where taxpayers could track the flow of funds in and out of state government – even money doled out in the form of tax credits. Rep. Charles Murphy, the House’s budget chief, had called for the creation of the website in(...)
Rep. Murphy keeps probation within judiciary but under control of Legislature
Rep. Charles Murphy’s House budget proposal sticks with the status quo on the state’s probation service, keeping the department within the judiciary but under the tight control of the Legislature. “We’re not going to cede our authority,” said the chairman of the House Ways and Means Committee when asked why he chose not to adopt(...)
secretary of state William Galvin is starting to lift the veil of secrecy surrounding his management of the state’s historic rehabilitation tax credit program, which provides financial incentives for developers to restore historic buildings. Galvin recently posted on his state website the names of companies and projects receiving tax credit awards during the latest round(...)
The Bay State courts companies and their jobs with tax credits
Six companies looking for state aid in return for staying or expanding in Massachusetts were awarded nearly $27 million in tax credits today. Liberty Mutual Group, the state’s lone Fortune 100 company, received 84 percent of the credits in connection with a headquarters expansion in Boston. Liberty says it plans to spend close to $350(...)