Breaking News

Small NJ Businesses Can Earn Cash for Credits

May 12th, 2010

Are you a NJ company looking to sell New Jersey NOLs or R & D Tax Credits? NTCI may be able to help you reduce your New Jersey Tax Liabilities.

Technology companies in New Jersey can sell their Net Operating Losses and Research and Development Tax Credits by participating in New Jersey’s Tax Benefit Exchange Program. To qualify as a seller, the company must:

  • Be a technology or biotechnology company
  • File a NJ CBT-100 Corporate tax return and have NJ employees
  • Not have positive operating income for the past two years
  • Employ 224 or less US employees
  • Offer health insurance to employees
  • Possess or have access to Intellectual Property
  • Provide a product or service that leads to job growth in the state
  • Have ability to continue as a “going concern”

A seller is limited to $15M lifetime cap.

The NTCI Tax Benefit Exchange program provides companies with a streamline approach for qualifying for the NJ Tax Benefit Exchange to make certain you get your cash as quick and efficiently as possible. Our service includes

  • Prequalifying your company
  • Completion of application process
  • Interfacing with government authorities on your behalf
  • Finding a buyer to purchase your tax benefits
  • Completion of all closing documents
  • Use of an attorney trust account for closing

Our service is spearheaded by Paul Westbrook, who has been helping sellers get state-approved and matching up buyers and sellers for almost 10 years. To learn more about Paul’s experience and credentials, click here. Additionally, if you’d like to learn if your tax benefits are sellable or what tax benefits are available for purchase, Paul can be reached by phone at (732) 698-7225 or email him at: Paul.Westbrook@ntlci.com

Breaking News

International Tax Incentives in Partnership with IBM

May 12th, 2010

As the world becomes more flat and interdependent, the importance of up-to-date and competitive infrastructure and technology in other countries is continually evolving. Consistent with this evolution is the need for many companies to expand beyond the borders of the United States.

If your company has or is looking to have an international presence, our international practice can negotiate and administer a package of incentives to help defray a significant portion of the costs associated with investing in new infrastructure, technology and in hiring, training and development of employees.

While there are limited opportunities for foreign tax credits, rebates or abatements, most international incentives are offered through cash grants. NTCI is partnered with IBM through their Public Partnership Commercial Opportunities group to obtain international incentives for clients. Our added value benefits include:

  • Worldwide knowledge and experience in working with government grants and incentive
  • Bandwidth to represent clients in multiple countries, simultaneously if necessary
  • Integrated network of international and local venders to assist where necessary
  • Management and administration of project from the beginning of negotiations until the project end when the client receives the incentive
  • No-Risk, success-based fees, based on a modest percentage of the client savings

For more information, contact Frank Berardi by email: Frank.berardi@ntlci.com or phone at (732) 657-5042.

Breaking News

State Income Tax Liabilities?

May 10th, 2010

Most companies realize that states have tax credit incentives for research and development, purchasing new assets, job creation, film projects, etc. But did you know that many states allow for the purchase of tax credits and even net operating losses (NOLs)? In many cases the companies eligible for these credits or having NOLs may not be in a position to utilize these tax benefits.

To nurture the success of these companies or encourage future projects in a locale, some states have elected to establish special programs to enable highly vetted companies in targeted industries and areas to sell their tax benefits. While the tax benefit sellers are carefully screened, qualified and even certified, the buyer can be any company in the state with a liability. The typical transfer puts valuable cash into the hands of the seller to feed new business or their next project and saves the buyer anywhere from 7% to 14% of their state tax liability.

States with substantial sellable tax benefits include Arizona, California, Connecticut, Georgia, Illinois, Louisiana, Massachusetts, Michigan, Missouri, New Jersey, Pennsylvania, and Rhode Island.

Our NTCI Tax Benefit Exchange practice is led by Paul Westbrook, who has been helping sellers get state-approved and matching up buyers and sellers for almost 10 years. To learn more about Paul’s experience and credentials, click here. Additionally, if you’d like to learn if your tax benefits are sellable or what tax benefits are available for purchase, Paul can be reached by phone at (732) 698-7225 or email him at Paul.Westbrook@ntlci.com.