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Tax Services for the Life Sciences Industry

Identifying opportunities to minimize tax and compliance burdens

Life sciences companies face a variety of tax considerations from the affects of tax reform to the benefits of R&D credits, to intellectual property planning and global reporting and compliance. Proper tax planning is imperative in order to avoid unnecessary tax exposure and minimize risk. 

RSM’s tax professionals provide specific life sciences tax consulting to companies on a variety of tax matters that include credits and incentives, state and local issues, and international tax planning.

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State opioid taxes: What you need to know

Three states have prescriptions for opioid taxes on manufacturers and distributors. Here’s what you need to know.

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Post-Tax Reform: Obtaining Capital Gain Treatment on Sale of Patents

Notwithstanding unfavorable changes to the Code, capital gain treatment is still available on the sale of patents in certain scenarios.

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Spin-off ruling on subsidiary with no independent current revenue

Active trade or business present in subsidiary without independent current revenue but with a plan to make future product sales.

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New York offers life science companies research and development credit

New life sciences businesses can earn up to a maximum tax benefit of $1.5 million in tax credits over three years.

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Tax-free spin offs prior to product sales stage could become a reality

The IRS is reconsidering the traditional rule requiring revenue to satisfy the active trade or business requirement of section 355.

VIDEO

Tax Cuts and Jobs Act for life sciences companies

Missed our recent webcast on how the Tax Cuts and Jobs Act will affect life sciences companies? Check out our recap.

INSIGHT ARTICLE

IRS legal advice requires capitalization of ANDA costs

A review of IRS rulings on the proper treatment of similar expenses that were incurred by a pharmaceutical company.

CASE STUDY

With basic functions improved, a company can focus on strategy

Covance, a life sciences company, wanted to improve its approach to managing global reporting and compliance requirements.

Policy snapshot: Life sciences

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Policy snapshot: Life sciences

Biden plans to expand Medicare, a move that the Congressional Budget Office estimates would cut drug spending by $450 billion over 10 years.

Understanding the role of the ERP for biopharma

RECORDED WEBCAST

Understanding the role of the ERP for biopharma

This recorded webcast gives an overview of how, when and why biopharma companies should invest in enterprise resource planning systems.

  • Joe Goldberg
  • |
  • November 13, 2020
Life sciences supply chain considerations during a pandemic

RECORDED WEBCAST

Life sciences supply chain considerations during a pandemic

This webcast gives an overview of the top considerations for life sciences companies looking to repatriate or nearshore supply chains.

  • Jake Winquist
  • |
  • October 30, 2020
2020 Election preview: Life sciences

INSIGHT ARTICLE

2020 Election preview: Life sciences

With the election approaching, RSM is looking at the economic stakes and the key issues for the life sciences industry.

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Amid pressure to reshore life science supply chains, challenges abound

We suggest stress-testing your supply chain to determine what the actual or opportunity costs of disruption might be.

INSIGHT ARTICLE

Remote research: Life sciences adapts to clinical trial disruption

For companies that may have dealt with a lab closure because of the pandemic, Scientist.com allows research to continue.

Life sciences industry outlook

INSIGHT ARTICLE

Life sciences industry outlook

Amid the COVID-19 pandemic, life sciences companies, thrust in the spotlight, are positioned for strong growth.

ARTICLE

4 Critical Challenges that Life Sciences Firms Solve with Technology

Whether developing drug therapies, designing medical devices, or more, life sciences companies have complex technology needs.

IRS updates taxpayers on its operating status

TAX ALERT

IRS updates taxpayers on its operating status

The IRS updated taxpayers on its operations status and recognized the delays in processing check payments due on July 15, 2020.

  • Patti Burquest, Alina Solodchikova
  • |
  • August 20, 2020
New Jersey relief for COVID-19 impacted tech and biotech companies

INSIGHT ARTICLE

New Jersey relief for COVID-19 impacted tech and biotech companies

Applications to sell unused state net operating losses and state research and development credits available the week of May 1, 2020.

  • Rob Calafell, Matthew McDowell, Rob Modzelewski
  • |
  • July 07, 2020