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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

Effected JurisdictionMassachusetts
Jurisdiction type: State
Fiscal year ending In2019
Program nameLife Sciences Tax Incentive Program
Program purpose: Technology (biotech)
Statutory authority: (not specified)
Abating jurisdiction(s): State of Massachusetts
Applicable taxesCorporate Excise Tax; Financial Institutions Tax; Insurance Premiums Excise Tax; Personal Income Tax
Method of abatement: Tax Credit
Provisions for recapture: Any company failing to achieve at least 80% of its job target by the end of any extension period and, in the case of the Life Sciences Job Incentive Refundable Credit, failing to create at least 50 net new jobs, will be de-certified.
Gross revenue loss: $20,000,000
Reimbursement / offset: $0
Net revenue loss: $20,000,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://www.macomptroller.org/annual-comprehensive-financial-reports/