The Therapeutic Discovery Tax Credit race has begun!

May 21, 2010 / Ed Jameson / Blog Posts
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The $1,000,000,000 Qualifying Therapeutic Discovery Project regulations were released by the IRS today.  Although the new Form 8942 to formally apply will not be released until ~ June 21 we strongly urge you to do some reading to see if you qualify and start to piece your application together now.  Qualifying Companies that win can obtain TAX FREE grants (or credits) of up to $5,000,000!

If you think you qualify – you have nothing to lose by applying for the grant (or credit) other than the 12 hours and 7 minutes that the Treasury estimates it will take to fill out the application.

IRS regs:

http://www.irs.gov/pub/irs-drop/n-10-45.pdf

Example calc

http://www.ustreas.gov/press/releases/reports/5.21.10%20therapeutic%20discovery%20fact%20sheet.pdf

 

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