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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.
Active trade or business present in subsidiary without independent current revenue but with a plan to make future product sales.
Tax highlights for life sciences companies as you prepare for year-end filing and a look ahead to prepare for 2019.
The IRS is reconsidering the traditional rule requiring revenue to satisfy the active trade or business requirement of section 355.
Covance, a life sciences company, wanted to improve its approach to managing global reporting and compliance requirements.
A review of IRS rulings on the proper treatment of similar expenses that were incurred by a pharmaceutical company.
New life sciences businesses can earn up to a maximum tax benefit of $1.5 million in tax credits over three years.