WOLF & CO Alerts Massachusetts Tax Incentives – Life Sciences Companies

Massachusetts Tax Incentives – Life Sciences Companies

The Massachusetts Life Sciences Center (MLSC) is offering up to $20 million in tax incentives for life sciences companies planning to grow in Massachusetts.

The goal of the program is to “expand life sciences-related employment opportunities, promote health-related innovations, and stimulate research and development, manufacturing, and commercialization in the life sciences.”

In working with our life sciences clients on these incentives in prior years, we have experienced firsthand how the state is looking to reward the life sciences companies that invest in Massachusetts.

The program is now accepting applications. Applications must be submitted online by 12 p.m. EST on is February 5, 2020. Visit the SmartSimple application portal to apply.

Overview of Tax Incentives

The program offers 10 different types of tax exemptions and credits, including:

  • A refund of existing research and development tax credits
  • A refundable investment tax credit
  • A refundable jobs credit

Through 10 rounds of the program, more than 256 awards totaling over $221 million have been awarded to life sciences companies of all sizes, sectors, and geographic distribution across Massachusetts.


A company is only eligible if:

  • It is registered to do business in Massachusetts
  • It had at least 10 permanent full-time employees (35 hours/week) employed as of December 31, 2019
  • It commits to hiring at least 10 net new jobs in calendar year 2020 and is able to retain those jobs through 2024
  • It files a Massachusetts tax return for either calendar year ended December 31, 2019 or a fiscal tax year ending after December 31, 2019 and prior to October 31, 2020

With just under one month to go before the deadline, there is still time to sign up to potentially reap these benefits.