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October
19 MassMEDIC Seminar: Applying for User Fee Tax Credit, Other State Incentive
As was announced earlier this year, in July 2006 MassMEDIC was successful
in lobbying Governor Mitt Romney to sign a law that establishes a state
tax credit for payment of medical device user fees to the FDA. The newly-enacted
law, the first of its kind in the country, grants Massachusetts medical
device manufacturers a 100% tax credit for user fee payments associated
with 510(k) or PMA products developed or manufactured in this state.
The law also allows companies that cannot use the tax credit, due to lack
of revenue, to sell their credits to third parties. This provision was
designed to assist early-stage companies that are introducing their first
product to market.
At this seminar, tax experts from KPMG and the state’s Department
of Revenue will provide MassMEDIC members with guidance on applying for
this tax credit, as well as other Massachusetts tax incentives available
to medical device manufacturers.
The seminar will be held from 8:00-9:30 a.m. at PRTM in Waltham, Mass.
To register for this free session, please RSVP to info@massmedic.com,
noting “October 19th Tax Seminar” in the
subject line. Please note that this seminar is open to MassMEDIC members
only. As we expect full attendance at this seminar, reservations are limited
to one representative per MassMEDIC member. For additional details, please
contact MassMEDIC at 617-414-1340.
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September 2006
