Biotech Firms May Get Up to $5 Million Tax Credit
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Biotechnology companies with fewer than 250 employees may get as much as $5 million each in U.S. government tax credits to help pay for development of “promising” new therapies.
The program gives companies with fewer than 250 employees as much as a 50 percent credit on investments that the government judges will create “promising” therapies and products, according to an Obama administration fact sheet. Investments made in 2009 and this year are eligible.