Massachusetts’ many tax credits and attempts at bringing them to light.
Secretary of State William Galvin is running a $50 million-a-year state tax credit program like a personal fiefdom. He decides which developers receive historic rehabilitation tax credits from the state and how much they get, using a selection process that creates uncertainty for developers and maximizes his political clout. What’s most startling is that Galvin,(...)
Tax credits are exploding in popularity in Massachusetts. Over the last several years, state lawmakers have approved tax credits to lure movies and movie stars to the state, to redevelop historic buildings, and most recently to give a boost to life science companies. The tax credits are having an impact. At least 88 movie productions(...)
UPDATE: Since the spring issue of CommonWealth went to press, the Massachusetts Revenue Department released a report indicating the financial impact of the state’s film tax credit could be substantial. The report said 88 movie projects were either completed or under development in 2006, 2007, and the first two months of 2008. The projects are(...)