Therapeutic Discovery Project Program

The application for the Therapeutic Discovery Project tax credit has just been released!

Applications must be postmarked by July 21, 2010.

Download the application (Form 8942)

Download the Project Information Memo (required with application)

Download application instructions

THIS JUST IN! MassBio members are invited to join BIO’s third webinar on the Therapeutic Discovery Tax Credit Program titled "Therapeutic Discovery Tax Credit Program: Application Process" which will provide up to date information on regulatory guidance, implementation of the new program, and the application process. The webinar is complimentary to MassBio’s biotechnology company members, and will take place on Monday, June 28th at 1 p.m.

Click here for more information.

 

 

 

The  IRS has released guidance on the new Therapeutic Discovery Project Program passed as part of the Patient Protection and Affordable Care Act.

The credit will cover up to 50 percent of the cost of qualifying biomedical research, up to a maximum credit of $5 million per business. The credit is available to companies with fewer than 250 employees and for investments made in 2009 and 2010.

Companies may submit applications for certification for the credit beginning on June 21. For help in applying, check out these MassBio resources:

Therapeutic Discovery Credit FAQs.

Therapeutic Discovery Credit Fact Sheet

Video and slides from a 5/13 Law & Policy  meeting on the credit (you must be logged in to view)

 

About MassBio

MassBio is a not-for-profit organization committed to advancing the development of critical new science, technology and medicines that benefit people worldwide.

Founded in 1985, MassBio represents over 600 biotechnology companies, academic institutions, research hospitals, and service organizations involved in life sciences and health care, and works to advance policy and promote education, while providing member programs and events, industry information, and services.

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