Alternative Energy and Energy Conservation Patent Income Tax Deduction (Personal)
Program Overview
Category:
Financial Incentive
Program Type:
Industry Recruitment/Support
Implementing Sector:
State
State:
Massachusetts
Eligible Storage Technologies:
Solar - Passive, Solar Water Heat, Solar Space Heat, Geothermal Electric, Solar Thermal Electric, Solar Thermal Process Heat, Solar Photovoltaics, Wind (All), Biomass, Hydroelectric, Geothermal Heat Pumps, Municipal Solid Waste, Fuel Cells using Non-Renewable Fuels, Yes; specific technologies not identified, Wind (Small), Fuel Cells using Renewable Fuels
Incentive Amount:
100% deduction
Administrator:
Massachusetts Department of Revenue
Applicable Sectors:
Residential
Start Date:
01/26/1979
Last Updated:
10/31/2016
Summary
Massachusetts offers a personal income tax deduction for (1) any income -- including royalty income -- received from the sale or lease of a U.S. patent deemed beneficial for energy conservation or alternative energy development by the Massachusetts Department of Energy Resources, and (2) any income received from the sale or lease of personal or real property or materials manufactured in Massachusetts and subject to the approved patent. The deduction is effective for up to five years from the date of issuance of the U.S. patent or the date of approval by the Massachusetts Department of Energy Resources, whichever expires first.