Can Jonathan Cohen do it again? The Maryland diagnostics CEO helped push
through his state's biotech tax credit, which has proved popular enough
to bring executives to an all-night
camp-out in Baltimore two years in a row to grab a piece of the
annual $6 million “tax credit-palooza,” as we like to call it.
Now Cohen is part of an effort to win a federal tax credit for investors in biotechs that have received grants from Uncle Sam's Small Business Innovation and Research program.
Wait a second, wasn't there just a biotech tax credit embedded in the
health care reform bill? Indeed there was, but the $1 billion tabbed for
the Therapeutic Discovery Project Credit will likely be stretched thin,
as “The
Pink Sheet” reports, even if the IRS sets an individual cap on
awards when it issues regulations later this month.
To read the full, original article click on this link: The IN VIVO Blog: Throwing Biotech Another Tax-Credit Bone
Author: Joseph Haas
