Second Year Results
Program Summary
July 1, 2000 - June 30, 2001

Basking Ridge, NJ—July 9, 2001--In the second year of the New Jersey Tech and Biotech Tax Transfer Program, a total of ninety-seven (97) companies applied to sell their accumulated Net Operating Losses and/or their Research and Development Tax Credits.  Ninety-three (93) companies were approved.  Of these approved companies, one chose not to sell as they had recently “turned the corner” and chose to use their losses themselves, two others were in bankruptcy proceedings and a fourth withdrew their application for “corporate reasons.” 

We at Tax Transfer Corporation, are pleased to report that we represented 64 of the 89 selling companies, or 72%.  Out of the $40,000,000 appropriated for the 2001 fiscal year, approximately $38,300,000 of tax benefits were actually sold.  The remaining $1,700,000 was represented by the four companies mentioned above.

Once again, Tax Transfer Corporation was 100% successful in placing all clients’ credits in a timely manner.

Tax Transfer Corporation was formed with the single purpose of becoming the quintessential participant in this program, accommodating both buyers and sellers of these valuable tax credits. "The return on investment to the buyer is extraordinary" says Bruce Deichl, who has over 20 years experience in the Municipal Bond market. "The Net After Tax Yields can exceed more than 10 times the return of an equivalent municipal bond or note. Equally as important, is that once certificates are issued they are guaranteed by the State of New Jersey thereby eliminating, for all practical purposes, any credit risk".

For more specific information please call us.
908-630-0087

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Revised: April 25, 2003