MBC Offers Comment on LSI Tax Incentive Guidance
The Massachusetts Biotechnology Council today submitted comments in response to the Department of Revenue's Technical Information Release issued earlier this month regarding the implementation of the Life Science Initiative's tax incentive piece.
See the comment letter here.
Chapter 130 of the Acts of 2008, "An Act Providing for the Investment in and Expansion of the Life Sciences Industry in the Commonwealth", authorizes the Massachusetts Life Sciences Center, in consultation with the Department of Revenue, to provide up to $25 million in tax incentives annually, beginning on January 1, 2009.
MBC will continue to advocate on behalf of our members as the MLSC and DOR draft the certification and tax incentive application processes. We anticipate both of those guidelines to be available for public comment by December 1.