- The U.S. is a leader in the life science industry, with significant foreign direct investment and job support
- Pharmaceutical manufacturing is growing due to an expanding drug pipeline and onshoring operations
- Sales tax is a major expense for inbound companies in the industry, with risks of noncompliance due to complex regulations
- Nexus considerations include physical presence, sales thresholds, and economic presence for state income tax purposes
- States provide exemptions for purchases related to manufacturing and R&D activities in the life science industry
Source: bdo.global
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
