Economic Incentives & Tax Credits
High impact incentives for small businesses in Massachusetts
Part of the Northeastern United States, Massachusetts is the most populated of all the six New England states. Massachusetts boasts a strong and diverse economy with a vibrant ecosystem of industries, including technology, healthcare, biotechnology, education, finance, and more. With renowned universities and research institutions like Harvard and MIT, Massachusetts attracts top talent and fosters innovation, creating ample opportunities for business growth and collaboration.
Top tax incentive programs for small and medium-sized businesses in Massachusetts
Economic Development Incentive Program Credit (EDIPC)
The credit amount is usually up to 10% of the cost of qualifying property purchased for business use, though the amount can go up to 40%.
Economic Opportunity Area Credit (EOAC)
The EOAC counts against taxpayers’ personal income tax or corporate excise liability. The credit is equal to 5% of the cost of the qualifying property purchased for business use.
MA Research Credit
Research Credit may be available to business corporations subject to the corporate excise that incurred qualifying expenses, closely paralleling federal research credit.
MA Apprenticeship Credit
The program provides certain non-corporate and corporate employers a nontransferable, refundable credit against the personal income tax and corporate excise.
Life Sciences Refundable Jobs Tax Credit
A certified life sciences company, to the extent authorized by the Life Sciences Tax Incentive Program, may receive the Life Sciences Refundable Jobs Tax Credit
MA Investment Tax Credit
Corporations may earn credit for the purchase or lease of qualifying tangible property.
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Subcity empowers small businesses, CPAs, and finance professionals to identify and apply for economic incentives and tax credits. Each year, over $100 billion is allocated for incentives across local, state, and federal programs in the U.S. Unfortunately, a significant portion of this money goes unclaimed or to large corporations with teams of tax attorneys and legal experts.
Subcity utilizes a comprehensive database of incentives to connect small businesses with the programs that were designed to help them create jobs, invest in their communities, and grow their business. Subcity charges a 10-20% fee for the programs they successfully secure, ensuring zero risk for clients as payment is contingent on results. Subcity is on a mission to democratize access to capital for America’s small businesses and has already delivered tens of millions of dollars in tax incentives for clients across the country.