New Tax Breaks for Massachusetts Life Science Companies
The Program is available to for-profit entities engaged in life sciences research, development, commercialization or manufacturing in Massachusetts. This includes companies working in the following areas: agricultural biotechnology, biogenerics, bioinformatics, biomedical engineering, biopharmaceuticals, biotechnology, chemical synthesis, chemistry technology, diagnostics, genomics, image analysis, marine biology, marine technology, medical devices, nanotechnology, natural product pharmaceuticals, proteomics, regenerative medicine, RNA interference, stem cell research and veterinary science.
According to the MLSC, the Program targets applicants "that have transitioned or are transitioning from pure life sciences research and development to commercialization and manufacturing." The MLSC will evaluate applications using a number of qualitative criteria including the impact on the Massachusetts economy and jobs, technical merit, management expertise, financial viability, and the potential market for the company's products.
We have extensive experience and expertise in Massachusetts tax laws and we are available to assist you in evaluating your eligibility for tax incentives and in the application procedure. Applications are currently being accepted on a rolling basis until May 15, 2009. Awards will be announced no later than September 15, 2009.
Authors
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Julie Hogan Rodgers
Partner
Vice Chair, Tax Practice
[email protected] +1 617 526 6543+1 617 526 6543