Section 38F. In determining the net income subject to tax under this chapter, a business corporation may deduct, in addition to any other allowable deduction under this chapter, an amount equal to twenty-five per cent of the compensation paid during the taxable year to individuals employed in an eligible business facility, as defined in section eleven of chapter twenty-three B, and either:
(i) domiciled in an eligible section of substantial poverty as defined in section eleven of chapter twenty-three B; or
(ii) domiciled in an area which had been certified as such an eligible section of substantial poverty when the corporation first received a certificate of eligibility; provided, however, such individuals still live in the same city or town;
and provided further such corporation has a certificate of eligibility with respect to such facility for the taxable year issued by the urban jobs incentive bureau of the Massachusetts office of business development. No deduction under this section shall exceed five thousand dollars for any qualifying individual.
Section: Previous 37 38 38A 38B 38C 38D 38E 38F 38G 38H 38I 38J 38K 38L 38M NextLast modified: September 11, 2015