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NJ EDA is Now Accepting Applications for the 2017 Technology Business Tax Certificate Transfer (NOL) Program

NJ EDA is Now Accepting Applications for the 2017 Technology Business Tax Certificate Transfer (NOL) Program

The NJ Economic Development Authority (EDA) has recently announced that they are now accepting applications for the 2017 Technology Business Tax Certificate Transfer (NOL) Program.

The Technology Business Tax Certificate Transfer Program enables qualified, unprofitable NJ-based technology or biotechnology companies with fewer than 225 US employees (including parent company and all subsidiaries) to sell a percentage of net operating losses (NOL) and research and development (R&D) tax credits to unrelated profitable corporations.

To participate in the 2017 NOL program, a company MUST submit an application with the EDA and file their corporate business tax returns by June 30, 2017!

Withum’s technology services team has annually helped our clients through the filing and application process and has witnessed many of our clients reaping the rewards of this lucrative program.

For additional information visit the EDA website for additional information: https://www.njeda.com/technology_lifesciences/technology-business-tax-certificate-transfer-(NOL)

Withum’s technology services team is standing by to help you through this process. You can reach Jim Bourke, our Technology Niche Practice Leader at: jbourke@withum.com

 

The information contained herein is not necessarily all inclusive, does not constitute legal or any other advice, and should not be relied upon without first consulting with appropriate qualified professionals.

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