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Massachusetts Free Printable  for 2024 Massachusetts Brownfields Credit Transfer Application

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Brownfields Credit Transfer Application
Form BCTA

Massachusetts Department of Revenue Form BCTA Brownfields Credit Transfer Application For calendar year 2023 or taxable year beginning 2023 and ending Name of company or nonprofit organization Federal Identification number Social Security number Mailing address City/Town State Zip Name of contact person Phone number E-mail address Type of entity: ● Corporation  ● Trust  ● Partnership  ● Sole proprietorship  ● LLC  ● Nonprofit  ● Other (specify):  Certificate number issued by DOR Certificate expiration date (mm/dd/yyyy) Amount of Brownfields credit in line 1 to be transferred with this application Amount paid by the purchaser for the Brownfields credit Brownfields credit amount eligible for transfer (amount on line 1 of Form BCC unused by the taxpayer or transferor).. . . . . . . . . . . . . . . . . . . . . . . Note: The taxpayer desiring to make a transfer, sale or assignment of a Brownfields credit must submit to the Commissioner a statement describing the amount of the credit, which is eligible for such a transfer, sale or assignment. See MGL ch 63, § 38Q(g) and MGL ch 62, § 6(j)(5). Name of purchasing company Federal Identification number Social Security number Mailing address City/Town State Zip Acknowledgment from the Transferor , acknowledge that I am selling the credit in the amount of $ I, the transferor, Signature Print name Date Declaration I declare under the pains and penalties of perjury that to the best of my knowledge, the information contained herein is accurate and complete. Signature Title of authorized representative Date A copy of Form BCC must be enclosed with this application. Mail to: Massachusetts Department of Revenue, Audit Division, 200 Arlington Street, Room 4300, Chelsea, MA 02150, attn. Credit Unit. On this day of before me, the undersigned notary public, personally appeared , provided to me through satisfactory evidence of identification, which was , to be the person whose name was signed above, and who swore or affirmed to me that the private financial assistance specified in line 1 above has been provided. Signature of notary public Date of expiration of commission Form BCTA Instructions What is the Brownfields Credit? Non-profit organizations and taxpayers subject to tax under MGL chs 62 and 63 are allowed a credit for incurring eligible costs to remove oil or hazardous materials on property the taxpayer owns or leases for business purposes and which is located within an economically distressed area. See MGL ch 62, § 6(j) and MGL ch 63, § 38Q. In general, the amount of the credit will be either 25% or 50% of the net response and removal costs incurred between August 1, 1998, and January 1, 2024, provided that the applicant commences and diligently pursues an environmental response action before August 5, 2023. Transfer, sale or assignment of the credit A taxpayer or non-profit organization intending to transfer, sell, or assign a Brownfields credit (the “transferor”) must submit to the Department a statement describing the amount of the Brownfields credit eligible for such transfer, sale or assignment. The transferor must also provide appropriate information so that the Brownfields credit can be properly allocated. The Department will issue a cer-tificate to the transferee reflecting the amount of the Brownfields credit received. The transferee must attach the certificate to each tax return in which the Brownfield credits are claimed. §§ 50 and 64 of ch 123 of the Acts of 2006. The required documentation that must be provided for DOR to execute the transfer of the credit between the transferor and the transferee are the following: Original Certificate issued by the Department of Revenue, and a completed Form BTCA that is signed by the transferor acknowledging the sale of the credit. Note: POA must get transferor signature for seller acknowledgment prior to signing the Declaration section and submitting the request for sales. For entities that are Partnerships and/or S-Corporations and transferring the credit to the members, a Form BTCA must be completed for each member with their apportioned credit. Seller acknowledgment does not need to be completed; only Declaration must be signed by General Member. Compliance. The Brownfields credit can only be claimed after the transferor has achieved and maintained a permanent solution or remedy operation status. Prior to claiming the credit, the transferor must file a response action outcome statement or remedy operation status submittal with the Department of Environment Protection. The Department will not recognize the transfer, sale or assignment of a Brownfields credit prior to the date of compliance with all the require ments of MGL ch 62, § 6(j), MGL ch 63, § 38Q, MGL ch 21E and the Massachusetts Contingency Plan set out in 310 CMR 40.00. Recapture. If a transferor of any Brownfields credit ceases to maintain the remedy operation status or permanent solution in violation of the Massachusetts Contingency Plan prior to its sale of the property or termination of its leasehold interest, the transferor will be subject to recapture and any Brownfields credit sold will be recaptured as taxes due from the transferor in the year of such failure to maintain the remedy operation status or permanent solution. Certificate number Enter the certificate number issued by the Massachusetts Department of Revenue for the Brownfields credit that is being transferred. Certificate expiration date Enter the certificate expiration date for the Brownfields credit that is being transferred. Amount of Brownfields Credit to be Transferred Section 1. Enter the total amount of Brownfields credit being transferred. Section 2. Enter the amount paid by the transferee for the Brownfields credit. Line 1. Enter the amount of Brownfields credit eligible for transfer (amount on line 1 of Form BCC unused by the taxpayer or transferor). Questions or concerns relating to the Brownfields Credit Transfer Application should be directed to the Brownfields Credit Unit at 617887-6978. Mail completed application to Massachusetts Department of Revenue, Audit Division, 200 Arlington Street, Room 4300, Chelsea, MA 02150, attn. Credit Unit.
Extracted from PDF file 2023-massachusetts-form-bcta.pdf, last modified January 2023

More about the Massachusetts Form BCTA Corporate Income Tax TY 2023

We last updated the Brownfields Credit Transfer Application in January 2024, so this is the latest version of Form BCTA, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form BCTA directly from TaxFormFinder. You can print other Massachusetts tax forms here.


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Other Massachusetts Corporate Income Tax Forms:

TaxFormFinder has an additional 126 Massachusetts income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form 3 Partnership Return
Schedule NTS-L-NR/PY No Tax Status and Limited Income Credit
Form 355 Massachusetts Business or Manufacturing Corporation
Form 2 Fiduciary Income Tax Return
Form 2-PV Massachusetts Fiduciary Income Tax Payment Voucher

Download all MA tax forms View all 127 Massachusetts Income Tax Forms


Form Sources:

Massachusetts usually releases forms for the current tax year between January and April. We last updated Massachusetts Form BCTA from the Department of Revenue in January 2024.

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About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Massachusetts Form BCTA

We have a total of thirteen past-year versions of Form BCTA in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:



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