The International Law Firm of Fulbright & Jaworski - Health Care
Laura Ann Gabrysch, David A. Gillespie, James P. Plummer and Julie Hammond
May 4, 2010 view as PDF view as PDF view as PDF
The new healthcare reform lag sets aside $1 billion for tax credits or grants for small biotech companies (250 employees or less) for certain research projects. The "Therapeutic Discovery Project" credit or grant is equal to 50 percent of the qualified project expenditures made during tax years beginning in 2009 or 2010. Best of all, a company with no taxable income can elect to receive a nontaxable cash grant instead of a credit.
Companies must apply for the credit or grant. Because of the $1 billion cap, the nationwide application process is expected to be competitive. Federal guidelines should be available at the end of May 2010. However, because of the short time frame and competitive nature of the application process, companies should start preparing now.
This web seminar helps biotech professionals gain a better understanding of the new program, including:
- Eligibility requirements
- Types of research projects that qualify for a credit
- Eligible and non-eligible expenses
- Selection criteria
- Application process
- Open issues
- Current action items and next steps
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If you are viewing a recording of this web seminar, most state bar organizations will only allow you to claim self-study CLE credit. Please refer to your state's CLE rules. If you have any questions regarding CLE approval of this course in your applicable bar, please contact your bar administrator.
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Laura Ann Gabrysch
David A. Gillespie
James P. Plummer