Governor Deval Patrick's Budget Recommendation - House 1 Fiscal Year 2014

2.615 -Medical Device User Fee Credit

Item DescriptionFY2012 FY2013 FY2014
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, but is not refundable. Insurance companies, financial institutions, and public utilities, which do not belong to regular corporate tax types, are also allowed to apply for this credit.

Origin:  M.G.L. c. 63, S. 31L
Estimate:  $0.4
0.4 0.4 0.4


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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