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NJEDA’s 2021 NOL (and R&D Credit) Program is Now Open

One of the NJEDA’s most popular programs is the Technology Business Tax Certificate Transfer (NOL) Program.

The program enables qualified technology and biotechnology to sell a percentage of net operating losses (NOL) and research and development (R&D) tax credits to unrelated profitable corporations.

The NOL Program was expanded in January 2021, when Governor Phil Murphy signed the New Jersey Economic Recovery Act of 2020. The program’s annual cap was increased from $60 million to $75 million. It also increased the lifetime cap for an individual applicant from $15 million to $20 million. So many former participants of the program that had reached the previous cap may again be eligible to participate in the current program.

The NJEDA is accepting applications for the 2021 program now through June 30th, 2021 at https://www.njeda.com/nol

For some more information on the program’s requirements please see here.

The NJEDA is also presenting a webinar regarding the 2021 program on May 18th, 2021 at 12 pm which can be joined using the following link: https://www.njeda.com/event/2021-nol-program-launch/

Contact our Withum’s Team to help address your questions regarding the NOL Program.

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