PSE&G's Net Operating Loss (NOL)
Transfer Program
The program allows new or expanding technology and biotechnology
companies to turn their tax losses and credits into cash to grow
their business. Approved businesses may “sell” their unused net
operating loss carryforwards and unused research and development
tax credit carryforwards, for at least 75% of the value of the
tax benefit.
Applications are due June 30th each year
with approvals by early fall. Each company has a lifetime cap to
sell no more than $10 million. There is $40 million available
each year for the program.
Why deal directly with PSE&G for this program?
- PSE&G has been the largest purchaser of
Certificates since the program began.
- PSE&G is the buyer, not a middleman or
broker.
- There are no hidden or additional fees
imposed on seller.
- PSE&G treats all sellers fairly and
equally.
- PSE&G is committed to completing each
step of the Certificate transfer process as soon as possible.
- PSE&G’s legal department prepares and
processes all documents needed for transfer.
- All documentation and submissions to
the State and follow-up required under the program are
provided by PSE&G without charge to seller.
Biotechnology company executives explain
how this program is working for them:
- Ken
Moch discusses how selling NOL credits to PSE&G
helped Alteon
develop new pharmaceutical products.
(wav 377K)
-
Will Steffens
discusses the PSE&G NOL investment and how it helps
life science companies grow in New Jersey.
(wav 389K)
You can learn more about selling
your companies unused tax credits by
contacting William Steffens at (973) 430-6360 or e-mail him at
william.steffens@locationNJ.com
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