Mass. Gen. Laws ch. 63 § 38V
Current through Chapters 1 to 249 and Chapters 253 to 255 of the 2024 Legislative Session
A taxpayer which is a certified life sciences company pursuant to section 5 of chapter 23I may, to the extent authorized pursuant to the life sciences tax incentive program established by said section 5 of chapter 23I, be allowed a deduction under paragraph 4 of section 30 for that portion of qualified clinical testing expenses paid or incurred for the taxable year equal to the amount of the credit allowable for the taxable year under section 45C of the Internal Revenue Code and otherwise disallowed as a deduction under section 280C(b) of said Code.
Mass. Gen. Laws ch. 63, § 38V