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Technology Business Tax Certificate Transfer Program
Application Deadline June 30th, 2006
The Technology Business Tax Certificate Transfer Program (Tax Transfer) allows new or expanding technology and biotechnology businesses to turn their net operating losses and R&D tax credits into cash to grow their business. Approved businesses may sell their unused net operating loss carry forwards and unused research and development tax credits to any corporate tax payer in the State for at least 75% of the value of the tax benefit. The businesses can use the money raised for working capital to buy equipment or facilities or other expenses. The business must have 224 or fewer employees of which at least 75% must be based in New Jersey, and it must meet other criteria. Each year $60 million in tax credits are available to be transferred. There is $10 million (out of the $60 million) that is designated specifically for Innovation Zone Companies. Please see the following link to apply for the Technology Business Tax Certificate Transfer Program:
Copyright © 2008 The Technology Centre of New Jersey, 675 U.S. Route 1, North Brunswick, NJ 08902, (609)292-0373