Life Science Tax Incentive
Tax Associate Ryan Filker authored this Life Science Tax Incentive piece to explain how a company can qualify for the various Life Science credits, and maintain its certification by staying in conformance with the current policy of the Massachusetts Life Science Center (MLSC). As you’ll read in Filker’s opening paragraph, in June 2008, Massachusetts enacted legislation that created both the Life Sciences Investment Program, and the Life Sciences Tax Incentive program. The MLSC acts as an agent for the commonwealth for purposes of administering who qualifies for any incentives under the Life Science Investment Program and the Life Sciences Tax Incentive Program, as well as who can have their certification revoked. The standards used by the MLSC to determine who should qualify for a credit has been subject to significant modification over the past few years, without any legislative changes. This has presented a challenge for companies attempting to conform to the standards set by the MLSC, in addition to the statutory rules imposed on life science companies.
Read the entire article here.