Massachusetts will allow investors in small life science businesses a personal income tax credit equal to 20% of the investment, or 30% if the business is in a lower-income community.
- The businesses must have gross revenues of $500,000 or less and 20 or fewer employees, according to the rule published Friday by the Department of Revenue.
- Investments can be for capital improvements, plant equipment, research and development, and working capital.
- Any one investor can receive up to $50,000 in tax credits in any one tax year, beginning Jan. 1, 2020.
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