Section 38V Deductions for qualifying clinical testing expenses; certified life sciences company - Massachusetts Statutes

[Text of section effective until December 31, 2018. Repealed by 2008, 130, Sec. 31. See 2008, 130, Secs. 53 and 54.]

Section 38V. 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.