On Dec. 7, 2020, the Massachusetts Life Sciences Center (MLSC) began accepting applications for a new round of the Center’s Life Sciences Tax Incentive Program, which offers tax incentives to companies engaged in life sciences research and development, commercialization and manufacturing in Massachusetts. The Program, part of the state’s Life Sciences Initiative, is approved to award up to $30 million in tax incentives each year (up from $25 million for periods prior to Jan. 1, 2019). The primary goal of the program is to incentivize life sciences companies to create new sustained jobs in Massachusetts.
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Topics:
Michael Corrente,
Tax incentive,
life sciences,
MLSC,
Massachusetts Life Sciences Tax Incentive Program
Life sciences companies have many new things to consider in light of the changes made by the 2017 tax legislation known informally as the Tax Cuts and Jobs Act (TCJA). Expensing elections for capital expenditures now have a broader scope, deductions for interest expense are subject to new limitations, and expenses for research and development will be subject to new rules for cost recovery. Several international tax developments may also affect how life sciences companies have traditionally structured activities related to research and development.
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Topics:
Michael Corrente,
life sciences,
Tax Reform,
Tax Cuts and Jobs Act,
TCJA,
tax reform bill
The Massachusetts Life Sciences Center (MLSC) has announced that it is now accepting applications for a new round of the Center’s Life Sciences Tax Incentive Program, which offers tax incentives to companies engaged in life sciences research and development, commercialization and manufacturing in Massachusetts. The Program, part of the state’s Life Sciences Initiative, is authorized to award up to $25 million in tax incentives each year. The primary goal of the program is to incentivize life sciences companies to create new sustained jobs in Massachusetts.
The deadline for applications to be submitted is February 16, 2017 by noon. Interested applicants are required to submit an online application. Applications will be accepted on an ongoing basis via the MLSC website (http://www.masslifesciences.com/programs/tax/) until the deadline.
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Topics:
Michael Corrente,
Tax incentive,
life sciences,
MLSC,
Massachusetts Life Sciences Tax Incentive Program
The Massachusetts Life Sciences Center has announced that it is now accepting applications for the 2014 Life Sciences Tax Incentive Program from companies engaged in life sciences research and development, commercialization and manufacturing in Massachusetts. The Program, which is part of the state’s Life Sciences Initiative, is authorized to award up to $25 million in tax incentives each year. The primary goal of the program is to incentivize life sciences companies to create new sustained jobs in Massachusetts.
The deadline for applications to be submitted is October 23, 2014 by noon. The Life Sciences Center is hosting information sessions to provide more information and answer any questions from July to October. CBIZ Tofias is co-hosting one of these sessions with law firm Cooley LLP on September 23 from 8:30 – 10:00am at 500 Boylston Street in Back Bay. We encourage you to attend this session with us – to register, click on the following link: http://info.cbiztofias.com/boston-pe/MA-life-sciences-tax-information-session
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Topics:
Michael Corrente,
life sciences,
2014 Massachusetts Life Sciences Tax Incentive Pro,
Mark Kebadjian
If you are a company in Massachusetts engaged in life sciences research and development, commercialization and manufacturing, you may be eligible for State tax incentives for the creation of new, sustained jobs. Over the past 4 years, the State awarded tax incentives to nearly 50 companies totaling more than $75 million. Those companies created a total of more than 1,800 jobs after receiving their tax incentives.
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Topics:
life sciences,
research and development
Affected Companies Can Register to Claim an Exemption Using Form 637
Author: Michael Corrente
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Topics:
Michael Corrente,
life sciences,
taxable medical devices,
Form 637,
excise tax,
tax-exempt,
IRS
Applications Now Being Accepted
Deadline: October 25, 2012 noon.
Author: Michael Corrente
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Topics:
Michael Corrente,
Tax incentive,
life sciences,
Massachusetts,
tax-exempt
