2.611 -Jobs Incentive Payment for Biotechnology and Medical Device Companies
Item | Description | FY2010 | FY2011 | FY2012 |
---|---|---|---|---|
2.611 | Jobs Incentive Payment for Biotechnology and Medical Device Companies
A biotechnology or medical device manufacturing company that creates 10 or more eligible jobs in the commonwealth during a single calendar year shall be entitled to a jobs incentive payment if its weighted average employment for such year reflects a net increase of at least 10 jobs over the company's weighted average employment for the prior calendar year. The jobs incentive payment shall be equal to 50% multiplied by the applicable Massachusetts income tax rate for the salary paid to the persons who perform the newly created eligible jobs for the calendar year in question. Effective for tax years beginning on or after January 1, 2006, Chapter 123 of the Acts of 2006 expands the job incentive payment program to include marine science technology companies. Origin: M.G.L. c. 62C, S. 67D, St. 2006, c. 123, S. 56, 57 and 58 Estimate: Expired |
Negligible | Expired | Expired |
Key:
ORIGIN | |
IRC | Federal Internal Revenue Code (26 U.S.C.) |
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M.G.L. | Massachusetts General Laws |
U.S.C | United States Code |
ESTIMATES | All estimates are in $ millions. |
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