Gary Hecimovich, Partner, Deloitte Tax LLP
Karen Turk, Partner, Goodwin Procter LLP
Larry Wittenberg, Partner and Co-Chair of Life Sciences Practice, Goodwin Procter LLP
The Patient Protection and Affordable Care Act, signed into law by President Obama on March 23, 2010, established a new tax credit that may be of significant benefit to small and mid-sized life sciences companies.
The legislation makes up to $1 billion in tax credits and grants available to small and mid-sized companies for expenditures made during 2009 and 2010 on qualifying therapeutic discovery projects. Because of the $1 billion limit, companies will be required to apply to the U.S. Treasury Department to receive an allocation.
This presentation addresses:
- Company Eligibility
- Project Eligibility
- Allocation Criteria
- Application Process
- Application Timeline
Click here to view the presentation.
Click here to download the slides.
IRS Notice 2010-45: Qualifying Therapeutic Discovery Project Credit >>