Third Year Results
Program Summary
July 1, 2001 - June 30, 2002

Basking Ridge, NJ – March 18, 2002 --  In the third year of the New Jersey Tech and Biotech Tax Transfer Program, a total of one hundred thirty two (132) companies applied to sell their accumulated Net Operating Losses and/or Research and Development Tax Credits.  One Hundred eighteen (118) companies were approved of which one company chose not to sell as they had recently “turned the corner” and a second company was tied up in bankruptcy. 

Tax Transfer Corporation is pleased to report that we represented 82 of the 118 approved selling companies.  Out of the $40,000,000 appropriated for the 2002 fiscal year, approximately $39,000,000 of tax benefits were actually sold.  The remaining $1,000,000 was represented by the two companies mentioned above.

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

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

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Revised: April 25, 2003