Code of Massachusetts Regulations
330 CMR - DEPARTMENT OF AGRICULTURAL RESOURCES
Title 330 CMR 29.00 - DAIRY FARMER TAX CREDIT PROGRAM
Section 29.05 - Tax Credit Calculations
Current through Register 1531, September 27, 2024
(1) On or before January 31st of the following applicable tax year, the Commissioner shall determine the following values:
(2) Trigger Price.
Trigger = total operating costs + hired labor + opportunity cost of unpaid labor.
(3) Farm Price.
(4) Trigger Percent shall be the sum of the number of months for which the Farm Price is less than or equal to the Trigger Price divided by 12.
(5) Total Tax Credit shall be calculated by multiplying the Trigger Percent by the Total Cumulative Value of Credits, not to exceed $6 million.
(6) Dairy Farmer Tax Credit Rate shall be calculated by dividing the Total Tax Credit by the Total Milk Production.
(7) Dairy Farmer Tax Credit shall be calculated by multiplying the Dairy Farmer Tax Credit Rate by the number of hundredweights of the Annual Milk Production of an Eligible Taxpayer.