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Imagine being an early-state technology or life science company able to sell your net operating losses and unused research & development tax credits to unrelated, profitable corporations for cash?
Applications for an expanded program that has allowed companies to do just that for more than two decades are now available.
The New Jersey Economic Development Authority announced Thursday it is accepting applications for its 2021 Net Operating Loss program, which was expanded through the New Jersey Economic Recovery Act of 2020.
The EDA is accepting applications online through June 30. Apply here.
Hailed as a lifeline for companies that have not yet reached profitability, the capital raised through this program can be used for costs including, but not limited to, the expenses of fixed assets, such as the construction, acquisition and development of real estate; materials; startup; tenant fit-out; working capital; salaries; and R&D expenditures.