Trenton, NJ - The NJ Angel Investor Tax Credit Program provides a 10% refundable tax credit against New Jersey corporation business or gross income tax for qualified investments in an emerging technology business with a physical presence in New Jersey and that conducts research, manufacturing, or technology commercialization in the state. The program, which is administered by the NJ Economic Development Authority (EDA) in consultation with the New Jersey Division of Taxation, is available to all taxpayers (including out of state investors) who invested in an eligible NJ emerging technology business.
Since EDA began accepting applications to the program in July 2013, two hundred and seventeen (217) investments have been approved, representing the injection of more than $75 million of capital into New Jersey technology and life sciences companies. The program was recently featured here, in addition to several other press articles.
To qualify, technology businesses must employ fewer than 225 employees, 75 percent of whom must work full-time in New Jersey. Businesses must also conduct at least one of the following activities in New Jersey: incur qualified research expenses; conduct pilot scale manufacturing; or commercialize an eligible technology. Eligible technologies include: advanced computing, advanced materials, biotechnology, electronic devices, information technology, life sciences, medical devices, mobile communications and renewable energy technology.
A maximum tax credit of $500,000 is allowed per each qualified investment, and the total program is subject to an annual cap of $25 million.
The newly revised application can be found on the NJ Angel Investor Tax Credit webpage at www.njeda.com/AngelTaxCredit. On the webpage you will also find a brief informative Webinar, and Frequently Asked Questions.
REMINDER NOTICE OF APPLICATION DEADLINE: Applications must be submitted within one year of date of investment. Please note that completed applications, with all required documentation, must be submitted by November 15, 2015 in order to be considered for approval for a 2015 tax credit certificate. Any applications received after this date will be considered and reviewed for a potential tax credit certificate for 2016.
Please direct any questions or inquires via email to [email protected]. An EDA Venture Officer will respond to your request in a timely fashion.
To learn more about how the EDA supports the NJ technology and life sciences communities, please visit www.njeda.com/tls.
The New Jersey Economic Development Authority (EDA) is an independent State agency that finances small and mid-sized businesses, administers tax incentives to retain and grow jobs, revitalizes communities through redevelopment initiatives, and supports entrepreneurial development by providing access to training and mentoring programs. For more information on EDA's products and services, please visit www.njeda.com.
To qualify, technology businesses must employ fewer than 225 employees, 75 percent of whom must work full-time in New Jersey. Businesses must also conduct at least one of the following activities in New Jersey: incur qualified research expenses; conduct pilot scale manufacturing; or commercialize an eligible technology. Eligible technologies include: advanced computing, advanced materials, biotechnology, electronic devices, information technology, life sciences, medical devices, mobile communications and renewable energy technology.
A maximum tax credit of $500,000 is allowed per each qualified investment, and the total program is subject to an annual cap of $25 million.
The newly revised application can be found on the NJ Angel Investor Tax Credit webpage at www.njeda.com/AngelTaxCredit. On the webpage you will also find a brief informative Webinar, and Frequently Asked Questions.
REMINDER NOTICE OF APPLICATION DEADLINE: Applications must be submitted within one year of date of investment. Please note that completed applications, with all required documentation, must be submitted by November 15, 2015 in order to be considered for approval for a 2015 tax credit certificate. Any applications received after this date will be considered and reviewed for a potential tax credit certificate for 2016.
Please direct any questions or inquires via email to [email protected]. An EDA Venture Officer will respond to your request in a timely fashion.
To learn more about how the EDA supports the NJ technology and life sciences communities, please visit www.njeda.com/tls.
The New Jersey Economic Development Authority (EDA) is an independent State agency that finances small and mid-sized businesses, administers tax incentives to retain and grow jobs, revitalizes communities through redevelopment initiatives, and supports entrepreneurial development by providing access to training and mentoring programs. For more information on EDA's products and services, please visit www.njeda.com.
