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The Boston Globe

Metro

Studios’ credits let others cut taxes

Reselling waivers is big business

Most tax credits issued by the state to film production companies end up being sold to brokers, which then resell them at a profit to financial firms, other corporations, and wealthy individuals to slash their tax bills.

At least 96 percent of the $265 million in tax credits used to attract movie and television productions to Massachusetts were sold by the film companies between 2006 and 2010, according to the state Department of Revenue.

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