Code of Massachusetts Regulations
330 CMR - DEPARTMENT OF AGRICULTURAL RESOURCES
Title 330 CMR 29.00 - DAIRY FARMER TAX CREDIT PROGRAM
Section 29.06 - Application of the Tax Credit to an Eligible Taxpayer's Tax Return
Universal Citation: 330 MA Code of Regs 330.29
Current through Register 1531, September 27, 2024
(1) The amount of the Dairy Farmer Tax Credit shall be applied to the Eligible Taxpayer's state income tax return as follows:
(a) If the tax liability of the Eligible
Taxpayer is greater than the Dairy Farmer Tax Credit, the taxpayer's tax
liability shall be reduced by the amount of the credit.
(b) If the tax liability of the Eligible
Taxpayer is zero, the Dairy Farmer Tax Credit shall be refunded to the
taxpayer.
(c) If the tax liability
of the Eligible Taxpayer is less than the Dairy Farmer Tax Credit, the tax
liability shall be reduced to zero. The difference between the Dairy Farmer Tax
Credit and the tax liability shall be refunded to the taxpayer.
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