General Rule

Official source

The Secretary may award a credit against the excise imposed pursuant to M.G.L. c. 63 and the tax imposed pursuant to M.G.L. c. 62 to taxpayers primarily engaged in cranberry production. To be considered for an award, a taxpayer must engage in the qualified renovation of a cranberry bog, as that term is defined in 301 CMR 16.02: Definitions. The credit is generally equal to 25% of the total qualified renovation expenses incurred during the taxpayer’s taxable year, as further described in 830 CMR 62.6W.1(4). The credit is refundable, but it is not transferable. The Secretary shall notify the Commissioner of the amount of credit awarded to each taxpayer.

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General Rule

Official source

The Secretary may award a credit against the excise imposed pursuant to M.G.L. c. 63 and the tax imposed pursuant to M.G.L. c. 62 to taxpayers primarily engaged in cranberry production. To be considered for an award, a taxpayer must engage in the qualified renovation of a cranberry bog, as that term is defined in 301 CMR 16.02: Definitions. The credit is generally equal to 25% of the total qualified renovation expenses incurred during the taxpayer’s taxable year, as further described in 830 CMR 62.6W.1(4). The credit is refundable, but it is not transferable. The Secretary shall notify the Commissioner of the amount of credit awarded to each taxpayer.