Seventh Year Results
Program Summary
State Fiscal Year 2006

Basking Ridge, NJ--January 16, 2006-In the seventh year of the Tax Transfer Program there were a total of 237 applicants. With new interpretation to the rules and regulations, and a new management team at NJEDA, this year has been the most challenging year to date and as a result, 38 applications were not approved. TTC’s clients were not immune to the high rate of rejections. Even though we represented the majority of participants in the Program, only ten of the applications disallowed were our clients’. In spite of the highest disapproval rate in seven years, the Program was still successful in that close to $60 million was distributed to the participating companies.

TTC continued servicing its clients by closing 100% of its transactions by mid December. Our clients received their funding in the shortest amount of time since the inception of the Program in 1999. We were able to achieve this through the implementation and utilization of a more comprehensive database, daily interaction between our team, our Sellers and Buyers, NJEDA and the Division of Taxation. TTC was successful in placing over $36 million in Tax Benefits for our clients in this 7th year of the Program.

TTC anticipates the preparation and submission of over 200 applications on behalf of our clients prior to the June 30, 2006 deadline for the State Fiscal 2007 Program.

For more information please contact us.

908-630-0087

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