Alternative Energy and Energy Conservation Patent Income Tax Deduction (Personal)

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Program Alternative Energy and Energy Conservation Patent Income Tax Deduction (Personal)
Category Financial Incentive
Implementing sector State
Last Update
State Massachusetts
Administrator Massachusetts Department of Revenue
Website
Budget -
Start Date
Technologies Solar - Passive, Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Solar Thermal Process Heat, Solar Photovoltaics
Sectors Residential
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.
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