INCENTIVE DESCRIPTION

State: NJ
Incentive Type: Income/Franchise Tax Incentives and Credits
Incentive Title: R&D Credits
Description: 1. RESEARCH AND DEVELOPMENT TAX CREDIT: Income tax credit for qualified research and development expenditures. 2. TECHNOLOGY BUSINESS TAX CERTIFICATE PROGRAM: Allows a new high tech/biotech firm to sell their unused R&D tax credits or NOL's to a New Jersey business for 75% or more of the value.
Eligibility Requirements: 1.Qualified expenses must meet the definitions of IRC 41. 2.Businesses must have 225 employees with at least 75% based in New Jersey. Company cannot have a positive net income on either of its last two full year Income Statements• Company must be a technology or biotechnology company whose primary business involves the provision of a scientific process, product or service. Company cannot have a profitable parent company or be part of a profitable consolidated group of affiliates for federal income tax purposes. The business must own, have filed for, or have a license to use protected, proprietary intellectual property, Principal product or service must be sufficiently innovative to provide a competitive advantage. Applications must be received by June 30 of each year Additional restrictions apply.
Geographic Restrictions: Statewide
Granting Authority: Economic Development Authority


The information which you have reviewed is a summary of the benefits and savings which may be available for your company. To receive a more detailed analysis of valuable opportunities for your company, please forward your contact information to Larry Kramer at lkramer@incentisgroup.com

Impotant Legal Information
Information is provided in summary form and should not be considered legal, investing, or other business advice. Its receipt does not create a relationship between Incentis Group and recipient. All information is believed to be accurate at the time of printing but should not be relied upon, and no decisions should be made, without consulting the full text of the applicable statutes and seeking independent counsel. Incentis Group and FastFacility make no representation as to the eligibility of a company or person to receive any incentives.