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November 22, 2024 Rain | 44°F
The 193rd General Court of the Commonwealth of Massachusetts
  1. General Laws
  2. Part I ADMINISTRATION OF THE GOVERNMENT
  3. Title IX TAXATION
  4. Chapter 63 TAXATION OF CORPORATIONS
  5. Section 38O Economic target areas; tax deduction for renovation of abandoned buildings

Section 38O

Section 38O: Economic target areas; tax deduction for renovation of abandoned buildings

[Text of section effective for tax years beginning after January 1, 2019. See 2018, 228, Sec. 72.]

Section 38O. A corporation whose excise under this chapter is based on net income may, in determining such net income, deduct an amount equal to 10 per cent of the cost of renovating an abandoned building that is part of a certified project designated under section 3A of chapter 23A.