Trenton, NJ - The NJ Economic Development Authority (EDA) recently announced the opening of itsTechnology Business Tax Certificate Transfer (NOL) Program application for 2015. The program permits technology and biotechnology companies to raise capital by selling unused New Jersey net operating losses and research and development tax credits.
The net operating losses and tax credits must be sold to unrelated corporations. A number of the eligibility requirements are listed in the EDA’s press release. The goal of the NOL program is to provide a means of raising capital for developing tech companies in the state. Companies must submit an application online to the EDA by the June 30, 2015 deadline.
NJBIA is supportive of creating an innovation ecosystem that advances our technology sector. This program helps cultivate emerging companies and provide them necessary working capital while encouraging research and development in New Jersey.
NJBIA is supportive of creating an innovation ecosystem that advances our technology sector. This program helps cultivate emerging companies and provide them necessary working capital while encouraging research and development in New Jersey.
