diff --git a/MANIFEST.in b/MANIFEST.in
index 1aba38f67..12a54d01a 100755
--- a/MANIFEST.in
+++ b/MANIFEST.in
@@ -1 +1,4 @@
 include LICENSE
+include requirements/base.txt
+include requirements/dev.txt
+purge tests
\ No newline at end of file
diff --git a/Makefile b/Makefile
index a7d9f19c4..ffcc26fcb 100755
--- a/Makefile
+++ b/Makefile
@@ -37,7 +37,7 @@ activate:
 	
 init:
 	$(info [*] Install requirements...)
-	@pip install -r requirements-dev.txt -r requirements.txt
+	@pip install -r requirements/dev.txt -r requirements/base.txt
 
 test:
 	$(info [*] Run the unit test with minimum code coverage of $(CODE_COVERAGE)%...)
diff --git a/requirements-dev.txt b/requirements-dev.txt
deleted file mode 100644
index 3590f3b49..000000000
--- a/requirements-dev.txt
+++ /dev/null
@@ -1,13 +0,0 @@
-coverage==4.3.4
-flake8==3.3.0
-tox==2.2.1
-pytest-cov==2.4.0
-pylint==1.7.2
-
-# Test requirements
-pytest==3.0.7
-py==1.4.33
-mock==2.0.0
-nose==1.3.7
-parameterized==0.6.1
-requests==2.11.1
diff --git a/requirements.txt b/requirements/base.txt
similarity index 85%
rename from requirements.txt
rename to requirements/base.txt
index 0449f83ab..1ad6822be 100755
--- a/requirements.txt
+++ b/requirements/base.txt
@@ -1,5 +1,5 @@
-boto3==1.6.2
-botocore==1.9.2
+boto3>=1.6.2
+botocore>=1.9.2
 docutils==0.14
 enum34==1.1.6
 functools32==3.2.3.post2
diff --git a/requirements/dev.txt b/requirements/dev.txt
new file mode 100644
index 000000000..e8f9e371f
--- /dev/null
+++ b/requirements/dev.txt
@@ -0,0 +1,13 @@
+coverage==4.3.4
+flake8>=3.3.0
+tox>=2.2.1
+pytest-cov>=2.4.0
+pylint>=1.7.2
+
+# Test requirements
+pytest>=3.0.7
+py>=1.4.33
+mock>=2.0.0
+nose>=1.3.7
+parameterized>=0.6.1
+requests>=2.11.1
diff --git a/samtranslator/__init__.py b/samtranslator/__init__.py
index e69de29bb..77f1c8e63 100644
--- a/samtranslator/__init__.py
+++ b/samtranslator/__init__.py
@@ -0,0 +1 @@
+__version__ = '1.5.0'
diff --git a/setup.py b/setup.py
index 8e4f97a6d..57460d5b6 100755
--- a/setup.py
+++ b/setup.py
@@ -1,25 +1,83 @@
-#!/usr/bin/env python
+# -*- coding: utf-8 -*-
+#
+# setup.py
+#
+# Copyright 2018 Amazon.com, Inc. or its affiliates. All Rights Reserved.
+#
+# Licensed under the Apache License, Version 2.0 (the "License");
+# you may not use this file except in compliance with the License.
+# You may obtain a copy of the License at
+#
+#     http://www.apache.org/licenses/LICENSE-2.0
+#
+# Unless required by applicable law or agreed to in writing, software
+# distributed under the License is distributed on an "AS IS" BASIS,
+# WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+# See the License for the specific language governing permissions and
+# limitations under the License.
+#
+
+"""
+AWS SAM Serverless Application Model
+"""
+import io
+import os
+import re
 
 from setuptools import setup, find_packages
 
 
-with open('README.md') as f:
-    readme = f.read()
+def read(*filenames, **kwargs):
+    encoding = kwargs.get('encoding', 'utf-8')
+    sep = kwargs.get('sep', os.linesep)
+    buf = []
+    for filename in filenames:
+        with io.open(filename, encoding=encoding) as f:
+            buf.append(f.read())
+    return sep.join(buf)
+
+
+def read_version():
+    content = read(os.path.join(
+        os.path.dirname(__file__), 'samtranslator', '__init__.py'))
+    return re.search(r"__version__ = '([^']+)'", content).group(1)
+
+
+def read_requirements(req='base.txt'):
+    content = read(os.path.join('requirements', req))
+    return [line for line in content.split(os.linesep)
+            if not line.strip().startswith('#')]
 
-with open('LICENSE') as f:
-    license = f.read()
 
 setup(
     name='aws-sam-translator',
-    version='1.4.0',
+    version=read_version(),
     description='AWS SAM Translator is a library that transform SAM templates into AWS CloudFormation templates',
-    long_description=readme,
+    long_description=read('README.md'),
     author='Amazon Web Services',
     author_email='aws-sam-developers@amazon.com',
     url='https://github.com/awslabs/serverless-application-model',
-    license=license,
+    license='Apache License 2.0',
     # Exclude all but the code folders
     packages=find_packages(exclude=('tests', 'docs', 'examples', 'versions')),
+    package_data={'': '*.yaml'},
+    install_requires=read_requirements('base.txt'),
+    extras_require={
+        'dev': read_requirements('dev.txt')
+    },
     keywords="AWS SAM Serverless Application Model",
+    classifiers=[
+        'Development Status :: 4 - Beta',
+        'Environment :: Console',
+        'Environment :: Other Environment',
+        'Intended Audience :: Developers',
+        'Intended Audience :: Information Technology',
+        'License :: OSI Approved :: Apache Software License',
+        'Operating System :: OS Independent',
+        'Programming Language :: Python',
+        'Programming Language :: Python :: 2.7',
+        'Topic :: Internet',
+        'Topic :: Software Development :: Build Tools',
+        'Topic :: Utilities',
+    ]
 )
-
diff --git a/tox.ini b/tox.ini
new file mode 100644
index 000000000..20808b9eb
--- /dev/null
+++ b/tox.ini
@@ -0,0 +1,26 @@
+[tox]
+envlist=py27, flake8
+
+[flake8]
+ignore = E126
+
+[testenv]
+# pytest parameters are included in the pytest.ini
+commands=pytest
+deps=
+    coverage
+    pylint
+    pytest
+    py
+    pytest-cov
+    mock
+    nose
+    parameterized
+    requests
+
+[testenv:flake8]
+basepython = python2.7
+deps =
+    flake8
+commands =
+    flake8 samtranslator tests --max-line-length=120
\ No newline at end of file