Schedule EDIP: Refundable Economic Development Incentive Program Credit (2024)
Massachusetts · Massachusetts DOR · Used for tax years 2024
Massachusetts Schedule EDIP reports the 2024 Economic Development Incentive Program credit generated or awarded for certified projects. It determines the total credit available and the refundable amount to enter on Schedule CMS.
Who files this form
Use the 2024 Schedule EDIP if the Economic Assistance Coordination Council (EACC) authorized you to claim tax credits for a project certified on or after January 1, 2010.
- For projects certified before January 1, 2010, use Schedule EOAC instead.
- Partners and shareholders receiving an allocated credit from a partnership or S corporation on Schedule K-1 or SK-1 do not complete Schedule EDIP. Complete Schedule CMS, Credit Manager Schedule, instead.
What you'll need
Have the following information available to complete the schedule:
- Your taxpayer name, federal identification or Social Security number, mailing address and phone number.
- The controlling business name shown on the credit certificate and its federal identification or Social Security number.
- The project type and certificate number.
- The EACC-authorized credit amount, rate and award limit, as applicable.
- The cost basis of qualified property, if completing lines 1 through 5.
- The number of new jobs created and the EACC-authorized rate for those jobs, if completing the certified job creation project lines.
Common mistakes
- Using the wrong schedule: Projects certified before January 1, 2010 use Schedule EOAC. Partners and shareholders receiving allocated credits on Schedule K-1 or SK-1 use Schedule CMS, not Schedule EDIP.
- Completing the wrong lines: For projects certified after January 1, 2017, skip to line 11 and enter the amount authorized by the EACC for the current year.
- Claiming a job creation credit too early: Credit for certified job creation projects is allowed only for the year after the year the jobs are created.
- Exceeding the refundable credit limit: Line 12 cannot exceed line 11.
- Leaving out the certificate number on Schedule CMS: Enter the line 12 refundable credit on Schedule CMS together with the certificate number issued by the EACC.
Questions people ask
How do I calculate the credit for a project certified before January 1, 2017?
For CEP, CEEP and CMRP projects, complete lines 1 through 5. Multiply the cost basis of qualified property by the EACC-authorized credit rate. On line 5, enter the smaller of that result or the authorized credit limit in the EACC award.
What do I enter for a project certified after January 1, 2017?
Skip to line 11 and enter the amount authorized by the EACC for the current year.
When is the credit for a certified job creation project allowed?
It is allowed only for the year after the year in which the jobs are created. The form refers readers to TIR 14-13.
Where do I report the refundable credit amount?
Enter the refundable credit on line 12, which cannot exceed line 11. Also enter that amount on Schedule CMS with the certificate number issued by the EACC.