TRENTON, Nj-The state Economic DevelopmentAuthority has approved 54 technology companies to receivea total of $60 million in benefits through its competitive programallowing such companies to sell tax losses or research anddevelopment tax credits to finance their businesses.
The allocations were made through the TechnologyBusiness Tax Certificate Transfer Program – known asNOL.
Since the program was established in 1999, more than 490businesses have been approved for awards totaling $770 million.Each of the 54 applicants approved this year will receive anestimated $1.1 million, which is 21% more than last year.
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