AstraZeneca, a Corry Associates client since 2010, is a business consisting of Merged Corporate Partnerships. This was a business entity not included in the definitional section of the Massachusetts Life Science Statute regarding businesses eligible for the Life Science R&D Tax Credit.

Working in a collaborative fashion, Corry Associates engaged in a dialogue with the Baker Administration, the Massachusetts Legislature, the Massachusetts Life Science Center, Associated Industry of Massachusetts and the Massachusetts Taxpayer’s Foundation, to explain the oversight in the definition of “business” in the statute.

This two year effort lead to the successful change of the definition to include business partnerships and provided AstraZeneca with an annual R&D Tax Credit in excess of $1M for additional R&D.