Specialty Tax Services for Life Sciences Companies
Tailored tax solutions that are unique to the life sciences industry
Specialty Tax Services for Life Sciences Companies
Life sciences companies face an array of complex tax considerations that can have major financial impacts on the organization. Baker Tilly's Value Architects™ can help you and your company understand the tax difficulties that are particular to the life sciences industry and provide tailored solutions that accomplish your organization’s specific goals.
We understand your unique challenges
Life sciences companies face challenges across all aspects of their business that are vastly different from other industries. From stringent regulations and oversight to negative public perception of the industry, there are many pressures that intensify the fear, uncertainty and doubt of leaders to make strategic decisions.
Among these challenges are the tax implications associated with research and development (R&D) tax credits, operations across multiple states and countries, subsidiaries with cross-border transactions, and other issues. At Baker Tilly, we understand your unique situation and will collaborate with you to help your business sustain financial growth by utilizing tax credits, reducing tax liabilities, maximizing tax deductions, mitigating risks and more.
Tailored specialty tax solutions
Our specialty tax services team, in collaboration with our life sciences specialists, can assist you and your organization to minimize tax burdens and accelerate tax deductions.
Life sciences companies heavily rely on R&D to bring new, life-changing therapies and products to market. While the expenses associated with R&D can seem daunting and sometimes unattainable, tools can help mitigate these necessary costs. With the help of the R&D tax credit, life sciences companies can take advantage of tax incentives that minimize the cost of investing in innovative research and technology, even before turning a profit. From understanding how to claim wages, supplies and contract research costs to finding ways to increase and optimize investments in new technologies, our specialty tax and life sciences industry professionals can help maximize the benefits of the R&D tax credit to your organization.
Life sciences companies often operate in multiple states and must deal with complex, and often confusing, SALT regulations. With a mix of constantly evolving laws, new tax policies and aggressive enforcement by authorities, life sciences companies have an even greater risk of facing fines and penalties. At Baker Tilly, our SALT specialists collaborate with you to understand these ever-changing policies and create strategies to lower your tax burdens and establish compliance.
Life sciences companies are often complex, multinational organizations that have subsidiaries across numerous countries. When operating with their global subsidiaries or distributors – especially when leveraging their worldwide network of healthcare providers (HCPs) or conducting clinical trials – companies are likely to engage in intra-group or cross-border transactions. With authorities across multiple tax systems increasing vigilance to occurrences of tax base erosion and profit sharing, recognizing international tax implications has become a focal point for organizational leaders.
Baker Tilly’s life sciences industry specialists understand the nature of these transactions and work closely with our specialty tax professionals on the best approach for your unique situation and transform your transfer pricing concerns into opportunities and solutions.
Our professionals
