Schedule RLSC: Refundable Life Science Credit Life Science Company (2025)
Massachusetts · Massachusetts DOR · Used for tax years 2025
Massachusetts Schedule RLSC reports life science tax credits authorized by the Massachusetts Life Science Center for 2025. It shows credits used to reduce tax, excess credits, and any authorized refundable credit under the Life Sciences Tax Incentive Program.
Who files this form
Taxpayers who applied for and were awarded tax credits by the Massachusetts Life Science Center (MLSC) must file Schedule RLSC with their tax return. These credits may apply to individuals or corporations.
Do not file this schedule unless the MLSC has notified you that it awarded you one of the tax benefits described in the form. You may claim benefits only to the extent previously authorized by the MLSC.
All taxpayers claiming MLSC-authorized credits complete Part 1. Taxpayers claiming an authorized refund must also complete Part 2.
What you'll need
Have the following information available to complete the schedule:
- Taxpayer name, federal identification number, mailing address and phone number.
- The designated life science company representative’s name, email address and phone number.
- The life science company’s name, if different from the taxpayer’s name.
- MLSC-authorized credit and refund amounts, qualified costs, credits taken and unused credits.
- Schedule CMS, which is used to calculate the unused research credit entered in Part 2, line 2, and to report the credit and refundable credit amounts.
- For Part 2, line 9, the tax after credits from Form 355, line 8; Form 355S, line 11; or Schedule U-ST, line 41, as applicable.
How to file
File Schedule RLSC with your tax return. The supplied text does not specify a mailing address or an electronic filing method.
- Complete the taxpayer and company information.
- Complete Part 1 for MLSC-authorized credits. If your award only authorizes a refund of available credits, enter 0 in every Part 1 field.
- Complete Part 2 if you are claiming an authorized refund.
- Report the credit and refundable credit amounts at the appropriate locations on Schedule CMS.
- Sign and date the declaration that the information is accurate and complete to the best of your knowledge.
Combined report filers must include the Part 1, line 5 amount in the member’s other credits used against its own excise on Schedule U-IC, line 8.
Common mistakes
- Filing without an MLSC award notification. The form warns not to file unless you have been notified of an award.
- Skipping Part 2 when claiming a refund. Taxpayers claiming an MLSC-authorized refund must complete it.
- Leaving the credit off Schedule CMS. The form reminds taxpayers to report both the credit and the refundable credit at the appropriate locations on Schedule CMS.
Questions people ask
What amount goes in Part 1, column a?
Enter the smaller of the credit authorized by the MLSC for the year or the credit due for your qualified costs.
Can unused credits be refunded instead of carried forward?
Taxpayers with unused current-year Life Science Investment Tax Credits, FDA User Fees Credits or Life Science Jobs Credits may apply for a refund at 90% of the unused credits’ value after reducing their tax liability, instead of carrying them forward. Corporations may similarly request refunds of unused current- or prior-year research credits under MGL ch 63, § 38M, to the extent authorized by the MLSC.
What if I am not seeking a Massachusetts Research Credit refund?
Enter 0 on Part 2, lines 1 through 3.
How is the total refundable credit calculated in Part 2?
Combine lines 3 through 7 on line 8. Subtract the tax after credits on line 9 from line 8, but do not enter less than 0 on line 10. Multiply line 10 by 90% on line 11. On line 12, enter the smaller of line 8 or the total of lines 9 and 11.