IRS Posts Therapeutic Discovery Project Awards

(whitehouse.gov)

The Internal Revenue Service (IRS) posted the complete list of companies receiving Qualifying Therapeutic Discovery Project credits and grants under a provision of the Affordable Care Act enacted on 23 March 2010. The Qualifying Therapeutic Discovery Project program is targeted to projects that show potential to produce new therapies, reduce long-term health care costs, or significantly advance the goal of curing cancer within the next 30 years.

The credit or grant covers up to 50 percent of the cost of qualifying biomedical research, up to a maximum credit of $5 million per firm and $1 billion overall, and is only available to firms with 250 or fewer employees. Credits and grants are available for investments made in 2009 and 2010. The IRS and National Institutes of Health collaborated on the awards.

The IRS page provides complete lists of grants and credits, as well as awards broken down by state. The vast majority of awards were grants rather than credits. A few foreign firms also received grants.

Related: Small Businesses To Benefit This Year from Health Care Act

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