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Biotechnology Tax Credits

Mintz Edge

Boosting Biotech: New York City Revives Tax Credits for Emerging Companies

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December 4, 2023 – New York City Mayor Eric Adams signed legislation reinstating tax credits for New York City companies in the life sciences and biotech space. As outlined in the ‘New’ New York Plan, “Making New York Work...more

Wilson Sonsini Goodrich & Rosati

New York City Announces Reinstatement of Refundable Biotech Tax Credits for Emerging Companies Through 2026

On December 4, 2023, New York City Mayor Eric Adams signed legislation to reinstate previously lapsed tax credits for biotech companies (the Credit), with a view towards bolstering the emerging biotechnology sector in New...more

Foley & Lardner LLP

Strengthening the Flow of the Biotech Sector’s M&A Pipeline

Foley & Lardner LLP on

Originally published in Genetic Engineering News on October 10, 2023. Reprinted with permission. The biotechnology sector has long been characterized by its constant innovation, rapid technological progress, and unyielding...more

McCarter & English, LLP

New Jersey Biotechnology Task Force Recommends Angel Investor Tax Credit Program Expansion

Good news for investors and entrepreneurs: The New Jersey Biotechnology Task Force (Task Force) has published its final report and recommendations to expand the Angel Investor Tax Credit Program with the goal of incentivizing...more

Bergeson & Campbell, P.C.

Senators Introduce Bipartisan Bill To Establish Renewable Chemicals Tax Credit

On October 18, 2017, Senator Debbie Stabenow (D-MI) introduced to the Senate the Renewable Chemicals Act of 2017 (S. 1980), which aims to establish a short-term tax credit for the production of renewable chemicals and for...more

Bergeson & Campbell, P.C.

Illinois State Senators Introduce Legislation To Boost Biobased Economy

On February 9, 2017, Illinois State Senators Andy Manar and Chapin Rose introduced legislation aimed at growing Illinois’ biobased economy by providing incentives under the Renewable Chemical Production Tax Credit Program...more

Bergeson & Campbell, P.C.

BIO Writes Open Letter To Congress Encouraging Multi-Year Extension Of Biofuel Incentives

On October 18, 2016, the Biotechnology Innovation Organization (BIO) sent a letter to Congressional Leadership, the Senate Finance Committee Chairs, and the House Ways and Means Committee Chairs calling for the extension of...more

Mintz

TechConnect - Your Law Firm Link to Industry News - May 2016

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Letter from the Editors - Dear Readers, There is an ancient Chinese proverb that goes like this: When the wind changes direction, there are those that build walls and there are those that build windmills. In the...more

Mintz

NYC Extends Tax Credit Available to Biotech Companies

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In late 2015, New York City Mayor Bill de Blasio signed into law a three-year extension of NYC’s biotechnology tax credit. The credit, which was set to expire on January 1, 2016, is now available through December 31, 2018....more

Bergeson & Campbell, P.C.

Iowa Senate Approves Renewable Chemical Production Tax Credit Legislation

On March 17, 2016, the Iowa State Senate voted 46-3 to approve Senate File 2300, a bill creating a production tax credit for renewable chemicals. The legislation was created to attract investment in renewable chemical...more

Bergeson & Campbell, P.C.

Tax Credits For Renewable Chemical Production Introduced In The House

On July 29, 2015, a bill to amend the Internal Revenue Code of 1986 to provide credits for the production of renewable chemicals and investments in renewable chemical production facilities, and for other purposes (H.R. 3390)...more

Best Best & Krieger LLP

California Enterprise Zone Program Modified with New Incentive Programs - New Economic Development Tax Credits Available for...

Yesterday, Governor Brown signed into law AB 93, legislation that will institute two new tax exemption programs for manufacturing and bio-tech equipment, add a hiring credit for employment in specified geographic areas and...more

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