Massachusetts: Life Sciences Center Tax Incentive Program

Life Sciences companies creating net new jobs in Massachusetts in 2020 may be eligible for tax incentives through the Massachusetts Life Science Center (“MLSC”) Tax Incentive Program. Incentives include a 10 percent investment tax credit, a FDA User Fee tax credit, certain sales and use tax exemptions, and the ability to monetize existing in-state R&D credits. Several of these tax incentives are refundable.  The next application round of the Tax Incentive Program is expected to open as early as December 9, 2019 and close in early February 2020. To be eligible, applicants must be a life sciences company engaged in research, development, manufacturing or commercialization in Massachusetts. In addition, applicants must commit to hiring at least 10 net new jobs in 2020 and must retain those jobs through 2024. The Massachusetts Life Science Center will evaluate applicants on a discretionary basis, taking into consideration those applicants who help advance the center’s goals. The center seeks to promote a skilled workforce, protect Massachusetts’ position as global life sciences leader, and support the development of treatments, therapies and cures. Please contact Bob Chase at (401) 228-2238 or Chris LaBarre at (617) 988-1311 with questions on MLSC Tax Incentive Program.