Screen MACrS - Massachusetts Tax Credits and Recapture (1120)

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Credits and Recapture

Credits
The application uses information in the attached statement to complete the Credit Manager Schedule.
note
The application limits the Economic development incentive program credit, economic opportunity area credit, investment tax credit, vanpool credit, and brownfields credit to 50 percent of the excise tax. The research credit is allowed up to the first $25,000 of corporate excise liability and 75 percent of any amount of excise remaining after the first $25,000 of corporate excise liability. The remaining credits are fully allowed as long as the credits do not reduce the tax to less than the minimum excise of $456.

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