Throughout the week, we highlight selected developments involving state tax legislative, judicial, and administrative matters. The alerts provide a brief summary of specific multistate developments relevant to taxpayers, tax professionals, and other interested persons. Read the recent alerts below or visit the archive.
Massachusetts Life Sciences Center Tax Incentive Program Expected to Open in December 2023 The Massachusetts Life Sciences Center (“MLSC”) is anticipated to officially announce the opening of the 2024 MLSC Tax Incentive Program (“MLSC Program”) in early December 2023. The MLSC is a quasi-governmental economic development agency dedicated to the support and growth of the life science industry in Massachusetts, including the administration of the MLSC Program. Traditionally, applications under this program have only been accepted during the specified application window, which opens annually in early to mid-December and closes in early February. Several of the incentives offered under the MLSC Program are refundable and may be claimed on the applicant’s 2023 Massachusetts Corporate Excise Tax return.
This Multistate Tax Alert summarizes the procedural requirements of the MLSC Program. [Issued: November 6, 2023] More
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