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.
| State or Territory: | Massachusetts |
| Effected Jurisdiction: | Massachusetts |
Jurisdiction type: | State or Territory |
| Fiscal year ending In: | 2019 |
| Program name: | Life Sciences Tax Incentive Program |
| Program purpose: | Technology (biotech) |
| Statutory authority: | (not specified) |
| Abating jurisdiction(s): | State of Massachusetts |
| Applicable taxes: | Corporate 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 source: | https://www.macomptroller.org/annual-comprehensive-financial-reports/ |
