Tax Incentive Program

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Applications for the Tax Incentive Program are not being accepted at this time.

Program Overview

In order to expand life sciences-related employment opportunities, promote health-related innovations and stimulate research and development, manufacturing and commercialization in the life sciences, the Massachusetts Life Sciences Center is pleased to announce that it is offering tax incentives to companies engaged in life sciences research and development, commercialization and manufacturing in Massachusetts. The primary goal of the program is to incentivize life sciences companies to create new long-term jobs in Massachusetts.

Program to Date

Through eight rounds of the program, more than 200 awards totaling over $181 million has been awarded to life sciences companies of all sizes, sectors and geographic distribution across Massachusetts.

Program Eligibility

  • Applicant companies must be registered to do business in Massachusetts
  • Applicant companies must employ at least 10 permanent FTEs (35 hours/week) as of December 31, 2017
  • Applicant companies must commit to hiring at least 10 net new jobs in calendar year 2018 and be able to retain those jobs through 2022
  • Applicant companies must file a Massachusetts tax return for either calendar year ending December 31, 2017 or a fiscal tax year ending after December 31, 2017 and prior to October 31, 2018

Interested applicants will be required to submit an online application. This is a one-step application process that includes information necessary for the applicant company to be certified under the Life Sciences Act. Please see sections 5 and 6 of the Solicitation for more information regarding the application process and further details on the eligibility requirements.

 

Policies and Reports

Quarterly and Annual Reports are required under this program for the Center to monitor the progress of the hiring against the commitment levels, which were the basis of the award provided. Companies who are not in compliance with their hiring commitments will be decertified and the tax incentives must be returned to the Massachusetts Department of Revenue. Please see below for the program policies regarding reporting, acquisitions, divestiture, and termination of incentives.

 

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