NJ Technology Credits: Available for Transfer

July 4, 2010 - PRLog -- Tax Point Advisors, the nation's leading service provider for companies seeking to claim Federal and state R&D tax credits, is assisting NJ companies file for the state's transferable technology credits.

How it Works:

IF YOU ARE: An unprofitable New Jersey-based technology or biotechnology company with fewer than 225 U.S. employees (including parent company and all subsidiaries)

YOU CAN APPLY FOR: The ability to sell net operating losses and research and development (R&D) tax credits to unrelated profitable corporations

IN THE AMOUNT OF: Net operating losses and R&D tax credits may be sold for at least 80% of their value, up to a maximum lifetime benefit of $15 million per business

TO BE USED FOR: Growth and operations, either as working capital or to fund research

BENEFITS: The Technology Business Tax Certificate Transfer Program enables technology and biotechnology companies that have promise but are not currently realizing a profit to turn net operating losses and R&D tax credits into capital

PROGRAM DETAILS:
Up to $60 million is available annually, with $10 million set aside for businesses located in Innovation Zones (any unused balance of the $10 million set-aside is reverted to the general program pool)
 
Only technology and biotechnology companies whose primary business involves the provision of a scientific process, product or service are eligible
   
An eligible company must own, have filed for, or have a license to use protected, proprietary intellectual property (defined as a patent or a registered copyright)
 
An eligible company cannot have had positive net operating income on either of its last two full-year income statements.   In addition, an eligible company cannot have a parent company with positive net operating income, or be part of a consolidated group of affiliates for federal income tax purposes with positive net operating income.
 
An eligible company must have at least one full-time employee working in New Jersey if incorporated less than three years, five full-time employees in New Jersey if incorporated more than three years but less than five years, or 10 full-time employees in New Jersey if incorporated more than five years
   
An eligible company must have financial statements for the three most recent full years of operation compiled, reviewed or audited by an independent CPA firm




NJ State FEES: Application fee: $2,500

Tax Point Advisors, the nation's premier provider of research and development tax credit studies, comprises a trusted team of former Big4 accountants, engineers, and business advisors providing the highest degree of professional service.  We assist CPA's and their clients in identifying and capturing their maximum Federal research & development tax credits, as well as state R&D tax credits.  WE HAVE A 100% SUCCESS RATE, NEVER HAVING HAD A CLAIM DENIED.  This is because we don't just calculate R&D credits, we also conduct a thorough ON-SITE R&D review process for EVERY study, then we write a bullet-proof, audit-defensible study report.  

We differ from other R&D tax credit study service providers by conducting our research at client sites for EVERY study, as noted; by performing our work on a simple, fixed fee basis (thereby offering complete transparency and a clear, pre-determined ROI for your client); and by having a Tax Point Advisors Partner manage EVERY study.  In addition, we are the ONLY national R&D tax credit study service provider dedicated EXCLUSIVELY to serving CPA's and their clients.

We put our CPA partners and their clients in control, first by listening, then by working diligently, to design solutions that help deliver maximum cashflow.  

The R&D tax credits and other tax credits are dollar-for-dollar reductions in tax liability, and they often result in significant cash refunds.

Our firm serves CPA's and their clients throughout the U.S. and Canada.  We provide a variety of services related to special government-sponsored incentives and credits.  We have extensive, national experience with Federal R&D tax credits (also referred to as R&E credits), state R&D tax credits, cost segregation studies, ERP and other software systems, and business advisors services.  

We pride ourselves on our ability to provide personal service to meet your business and individual requirements in these rapidly changing economic times.

• The Tax Point Advisors R&D CREDIT PROCESS BEGINS WITH A FREE TAX CREDIT ESTIMATE & FEASIBILITY ASSESSMENT

Tax Point Advisors•USA•Canada•email us at info@taxpointadvisors.com
1-(800) 260-4138
www.taxpointadvisors.com