The landscape for the life sciences sector is both complex and exciting. You face many challenges – from cybersecurity threats and complex regulatory and policy environments, to cross-border complexities and increasing demands from stakeholders. At the same time, you are developing innovative products and services that are changing our world for the better. At Baker Newman Noyes (BNN) we work collaboratively with clients to navigate their unique challenges and identify opportunities to stay ahead of the curve. Our goal is to help you grow revenue and increase your market share. We have experience working with clients at all stages of development from start-ups to large multinational public entities. We serve a variety of life sciences companies, including those in the biotech, pharmaceutical, medical device, and other emerging sectors.
Our professionals actively participate in trade associations such as the Massachusetts High Technology Council, the New Hampshire High Technology Council, and the Maine International Trade Center. This involvement ensures our life sciences team is engaged and on top of the issues you are facing.
Life sciences companies turn to BNN for help in a variety of ways such as:
- A-133 grant audits (required for federal funding exceeding $500K)
- Agreed upon procedures
- Employee benefit plan services
- Financial statement audits, reviews, and compilations
- Internal audit and enterprise risk assessment
- Sarbanes-Oxley readiness and compliance testing
- SEC reporting
- Technical accounting consultation and advisory, including preparation and adoption of new revenue standard ASC 606
- Complex tax accounting issues under ASC 740
- International tax
- Massachusetts Life Science Center’s Tax Incentive Program
- Research and development tax credits
- Review of complex collaborative agreements to determine proper tax treatment of revenue
- Tax compliance, structuring and strategy
- Transfer pricing
- Enterprise Risk Management
- Healthcare industry advisory
- Information systems and infrastructure consulting
- Process assessment and redesign
- SSAE 18 and System Organization Controls (SOC) Reports (SOC 1®, SOC 2®)
- System selection and implementation management
- Transaction advisory and due diligence
In addition, through our membership of Baker Tilly International, we are able to provide premier accounting, assurance, tax and specialist business advice worldwide, drawing on internationally recognized industry and service line experts in 147 countries.
Related Resources (Read More in Our Library)
- State Taxation Will Impact Foreign Entities who Sell in the U.S.
- Medical Device Companies Breathe a Sigh of Relief: Excise Tax Delayed Two Years
- Tangible Property Regulations: The Safe Harbors
- Research and Development Credit Explained
- A New Spin on the R&D Tax Credit for Small Start-Ups
Mark joined Baker Newman Noyes in 2014 in the firm’s Boston office. He focuses primarily on serving clients in the commercial and consumer products industries, with a special concentration in the retail, e-commerce and medical device sectors.
Bob Croak is a principal of the firm, providing tax advisory services to a broad range of clients with a special focus on the cleantech, life sciences, technology, and manufacturing, distribution and retail sectors.