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In an article posted on Forbes.com on March 26, 2010, Dean Zerbe describes a new research credit that is part of the health reform legislation. Capped at $1 billion, the "Qualifying Therapeutic Discovery Project Credit" could be a bonanza for some small and medium-sized biotech firms and their investors.
According to Dean, "Buried in the recently passed health reform package is a provision that provides an unusual and tremendous benefit to small and mid-sized (under 250 employees) biotech firms and their investors. This extraordinary gift from Congress (courtesy of a push by Sens. Robert Menendez, D-N.J.; Maria Cantwell, D-Wash.; and John Kerry, D-Mass.) provides a 50% tax credit for qualified biotech investments for tax years 2009 and 2010, or a grant for the same amount tax-free."
Click HERE to read the article by Dean on Forbes.com.
Dean Zerbe is a National Managing director at alliantgroup, a regular contributor to Forbes, and former Tax Counsel and Sr. Counsel on the Senate Finance Committee.
For more information about this credit, please contact Dean Zerbe at dean.zerbe@alliantgroup.com or David Ji at david.ji@alliantgroup.com
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