Translate
Facebook
X
Instagram
LinkedIn
Youtube
MEDIA CONTACT
Press Release
June 25, 2024
2 minute read

Applications for NJEDA NOL Program to Close on June 30th


TRENTON, N.J. (June 25, 2024) – The New Jersey Economic Development Authority (NJEDA) will close applications for the 2024 Technology Business Tax Certificate Transfer Program, commonly known as the Net Operating Loss (NOL) program, on Sunday, June 30th. The NOL program allows early-stage technology and life sciences companies in New Jersey to sell a percentage of their net operating losses and unused research and development (R&D) tax credits to unrelated profitable corporations for cash.  

WHAT:            The NOL program supports innovative start-ups by enabling qualified, unprofitable New Jersey-based technology or biotechnology companies with fewer than 225 U.S. employees to sell a percentage of its net operating losses and R&D tax credits. Participants can use the capital raised through the NOL Program to help cover allowable costs incurred in connection with operating their businesses such as salaries, R&D, and other working capital expenditures.

                        Since the program’s inception over 25 years ago, the NOL program has awarded more than $1.95 billion to over 580 innovative companies in New Jersey.

WHEN:           Applications will close on Sunday, June 30th, at 11:59 p.m. No new information can be provided after the deadline. Visit https://www.njeda.gov/nol/ for more information.         

About the NJEDA

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on FacebookTwitterInstagram, and LinkedIn.

SHARE

Related Content

Press Release

July 17, 2024

NJEDA Board Approves Investment of up to $6M into Newark Venture Partners

TRENTON, N.J. (July 17, 2024) – The New Jersey Economic Development Authority (NJEDA) today approved an investment into Newark Venture Partners, III, L.P. (NVP III) of up to $6 million under the NJEDA’s Venture Fund Investment Program.

Press Release

July 17, 2024

NJEDA Approves NJ Innovation Evergreen Fund Investment in Women-Led Tech Platform

TRENTON, N.J. (July 17, 2024) – The New Jersey Economic Development Authority (NJEDA) Board today approved an investment from the New Jersey Innovation Evergreen Fund (NJIEF) into an emerging women-led company, The Many Company.

Press Release

July 11, 2024

NOTICE OF MEETING CANCELLATION - NJ MOTION PICTURE & TELEVISION COMMISSION BOARD MEETING

Please be advised that the New Jersey Motion Picture & Television Commission meeting scheduled for Thursday, July 18, 2024 @ 10:30 AM is hereby cancelled.