Massachusetts is strengthening its investment in life sciences innovation—and now is the time to take advantage. The Massachusetts Life Sciences Center (MLSC) has launched its Tax Incentive Program for 2025, aimed to support companies that are expanding their operations and creating new jobs in the state. Now in its 16th round, the program offers refundable tax credits to eligible businesses involved in research, development, and manufacturing within the life sciences sector.
Key Benefits
- Refundable Tax Credits: Unlike non-refundable credits, these can generate a cash refund even if your company has no tax liability.
- Scalable Support: Ideal for both early-stage and established companies planning to expand their operations.
- Workforce Development: Encourages sustainable job creation and retention while enhancing the ability to attract top talent.
Eligibility Criteria
To qualify for the 2025 cycle, companies must:
- Be registered and filing taxes in Massachusetts for the 2024 tax year.
- Employ at least 10 permanent Massachusetts full-time employees as of December 31, 2024.
- Commit to hiring in calendar year 2025 in Massachusetts and commit to retaining those jobs through December 31, 2027.
- Minimum commitment of 10 net new full-time employees for all companies.
- This requirement is reduced to 5 net new full-time employees for companies that meet either of the following:
- Located in Gateway Municipalities or certain counties
- Employed less than 50 permanent Massachusetts as of December 31, 2024
- This requirement is reduced to 5 net new full-time employees for companies that meet either of the following:
Application Timeline & Process
- Application Period: June 12 – July 16, 2025, at 5 p.m. EST
- Submission: Applications must be submitted online via the MLSC portal.
Takeaway
The 2025 MLSC Tax Incentive Program offers a strategic opportunity for life sciences companies to accelerate growth, reduce costs, and deepen their presence in Massachusetts. With applications open through July 16, now is the time to act. Visit the MLSC website to learn more and apply.
Author: Raymond Jabagjorian | [email protected]
Contact Us
For more information on this topic, please contact a member of Withum’s Life Sciences Services Team.
