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Apply Now for Tax-Free 50 Percent Biotech Grants and Tax Credits

Posted May 26, 2010

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Apply Now for Tax-Free 50 Percent Biotech Grants and Tax Credits

When President Obama signed the Patient Protection and Affordable Care Act into law in March, the legislation also added a new qualifying therapeutic discovery project tax credit to the Internal Revenue Code. This extraordinary benefit provides a 50 percent tax credit to small- and mid-sized biotech firms (under 250 employees) and their investors, or a grant for the same amount, all tax-free, for tax years 2009 and 2010.

The credit/grant is only available through a competitive application process with limited funding of $1 billion over two years.