Update on Section 48(D) Tax Credit Program Activities

This serves as a reminder that guidelines for the Qualifying Therapeutic Discovery tax credit and grant provisions of the Health Care Reform Act (also called the Section 48(D) program) are scheduled for release this Friday, May 21. We encourage companies with potentially qualified programs to begin organizing their project information and consulting with their auditors or tax accountants to ensure timely preparation of their applications.

We are also prepared to assist you with review of applications and interpretation of the guidelines based on our extensive experience with life sciences clients and our experience with clean energy tax credit and grant programs.

We will continue to keep you informed about the most current guidance and interpretations as the impending regulations are published and discussed.

For reference, following are links to our recent Cooley Alerts on this Section 48(D) program:

• Life Sciences Companies Should Begin Now to Prepare to Apply for Federal Cash Grants and Tax Credits
• Healthcare Reform Law Will Provide Cash Grants and Tax Credits for Qualifying Life Sciences Companies

We also would like to invite interested parties to consider an upcoming SVASE program "Life Science Gold Rush – The Healthcare Reform Bill has $1B in Grants & Tax Credits Available" to be held on May 20, 2010 at Cooley's Palo Alto office.

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