Massachusetts doled out $171m in tax credits
’11 funds subsidized films, land cleanup
Massachusetts used millions of dollars in taxpayer money last year to subsidize everything from cleaning polluted land in Quincy to the upcoming Mark Wahlberg film “Ted,” according to a new report by the Massachusetts Department of Revenue. Overall, the state gave companies and individuals more than $171 million in 2011 in refundable or transferable tax credits for making films, rehabilitating old historic buildings, redeveloping contaminated land, and creating life sciences jobs, as well as other activities. These special types of tax credits can be bought, sold, or exchanged for cash.