Investment Credit for Therapeutic Discovery Projects

• Posted on July 6, 2010
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In 2009 and 2010, for companies with 250 or fewer employees, a 50% nonrefundable investment tax credit is allowed for expenses paid or incurred for qualified investments in qualifying therapeutic discovery projects.

Qualifying Therapeutic Discovery Project - A qualifying therapeutic discovery project is one designed to develop a product, process, or therapy to diagnose, treat, or prevent diseases and afflictions by:

(1) Conducting pre-clinical activities, clinical trials, clinical studies, and research protocols, or

(2) Developing technology or products designed to diagnose diseases and conditions, including molecular and companion drugs and diagnostics, or to further the delivery or administration of therapeutics.