Governor Deval Patrick's Budget Recommendation - House 2 Fiscal Year 2013

Governor's Budget Recommendation FY 2013

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2.615 -Medical Device User Fee Credit

Item DescriptionFY2011 FY2012 FY2013
2.615 Medical Device User Fee Credit
The Medical Device Credit is equal to 100% of the user fees actually paid to the United States Food and Drug Administration (USFDA) by a medical device company during the taxable year for which the tax is due for pre-market submissions (e.g., applications, supplements, or 510(k) submissions) to market new technologies or upgrades, changes, or enhancements to existing technologies, developed or manufactured in Massachusetts. The credit may be carried-forward for up to 5 years. Also the credit may be transferred or sold to another taxpayer. The credit is applicable to insurance companies as well.

Origin:  M.G.L. c. 63, S. 31L
Estimate:  $3.6
3.4 3.6 3.6


IRCFederal Internal Revenue Code (26 U.S.C.)
M.G.L. Massachusetts General Laws
U.S.C United States Code
ESTIMATES All estimates are in $ millions.

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