1. Patients launch $1.27 million crowdfunding campaign for ME/CFS gut microbiome study.
    Check out the website, Facebook and Twitter. Join in donate and spread the word!
ME/CFS and Beating the Clock
For Jody Smith, the ticking of a clock was enough at one time to chase her back to her bed. But with the passage of time, she has been able to reclaim her living room ...
Discuss the article on the Forums.

New $5Million Tax Credit for Small BioTech Announced

Discussion in 'Action Alerts and Advocacy' started by HopingSince88, May 24, 2010.

  1. HopingSince88

    HopingSince88 Senior Member

    Messages:
    335
    Likes:
    5
    Maine
  2. spindrift

    spindrift Plays With Voodoo Dollies

    Messages:
    280
    Likes:
    2
    Hmm... I think WPI is exempt from taxes given they are a non profit. But maybe a company they
    are working together with could make use of it.
  3. HopingSince88

    HopingSince88 Senior Member

    Messages:
    335
    Likes:
    5
    Maine
    That is a good point. I had not thought of that. The Biotech credit does not directly apply to non-profits.

    The Small Business Tax Credit does apply for non-profits: Nonprofits would be able to participate by taking the tax credit against their quarterly withholding payments. But apparently the gov't neglected to think about non-profits in the bio-tech credit bill. Oh well... it could be used if they spin off a for-profit company from their research. Or maybe the gov't could could revise the bill.

    To qualify the company must have fewer than 250 employees, and they can elect to receive a grant rather than a tax credit. Maybe we should write our congress and senate folks, yet again!

See more popular forum discussions.

Share This Page