Massachusetts Film Tax Credit Summary
- Applicable against corporate, bank, insurance premium, and individual income tax.
- Initial tax year for applying the credit is the tax year when the film credit application was received.
- Carried forward to any of the 5 subsequent taxable years beyond 2023.
- Transferee, buyers, or assignees may use and carry forward credits to any of the 5 subsequent taxable years from the first taxable year the credit was allowed to the initial transferor.
- Credits are refundable or in the alternative can be carried forward for up to 5 years.
- Credits can be sold, transferred, or assigned.