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Tax Planning Concept: Businessman Arranging Wooden Blocks with Financial Icons and TAX Text Representing Corporate Finance and Growth Strategy
Why Global Structuring and Transfer Pricing Matter for Life Sciences Companies 

The life sciences industry is characterized by high-value intellectual property (“IP”), extensive research and development (R&D), complex regulatory environments, and global supply chains. Life sciences companies are increasingly global from day one where R&D is performed in one country, clinical trials in others, IP held centrally, and manufacturing and commercialization is performed elsewhere. These unique attributes create opportunity, but it also creates tax risk if global structuring and transfer pricing are not…

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research and development puzzle piece
Research and Development (R&D) Tax Credits: Why Process and Documentation Matter

The R&D tax credit under IRC §41 is a statutory tax incentive, not a discretionary benefit, designed to reward companies for investing in innovation in the United States. While the opportunity can be significant, the credit is highly technical and documentation driven. At Withum, we believe the quality of an R&D tax credit study should…

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a key unlocking financial opportunities
Cannabis Rescheduling Opens the Door to Federal Tax Relief and R&D Tax Credits

A recent shift in federal policy materially changes how certain cannabis businesses should evaluate their Research and Development (R&D) Tax Credit position. On April 22, 2026, the Drug Enforcement Administration (DEA) issued a final order rescheduling specific cannabis products from Schedule I to Schedule III under the Controlled Substances Act. This change applies primarily to…

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Innovative startup team planning with digital mind maps, technology at the forefront
How the IRS Evaluates R&D Tax Credit Claims During an Audit

The Research and Development (“R&D”) tax credit under Internal Revenue Code (“IRC”) §41 is a statutory tax incentive, not a discretionary benefit. During an audit, the Internal Revenue Service (“IRS”) does not evaluate whether a taxpayer’s work “looks innovative”. Instead, examiners apply a structured, statute driven analysis grounded in §41, the Treasury Regulations, and the…

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video editing equipment
Illinois Film Production Services Tax Credit: Overview and SB 1911 Updates

Illinois’ Film Production Services Tax Credit is a key economic development incentive that attracts film, television, and commercial production while supporting job creation and in state spending. Administered by the Illinois Department of Commerce and Economic Opportunity (DCEO) through the Illinois Film Office, the program provides a transferable income tax credit for qualified Illinois production…

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White microscope objective lens scanning laboratory glass slide with glowing hexagonal chemical bonds representing bioinformatics data analysis.
New Jersey’s 2026 NOL Program: Turn Unused Tax Attributes Into Working Capital

The New Jersey Economic Development Authority (NJEDA) will open the application window for the 2026 Technology Business Tax Certificate Transfer Program (the “NOL Program”) on May 1, 2026, with submissions due no later than June 30, 2026. For emerging and growth stage technology and biotechnology companies, this long standing incentive continues to be one of…

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