Innovative Solutions for Innovative Business Leaders
In today’s health care environment, it is more important than ever for life sciences companies to align themselves with financial professionals experienced in all aspects of the industry. We know the growing number of complex challenges your business faces - from development stage, to becoming a commercial organization and capitalizing on tax-efficient strategies and leveraging intellectual property. Our Life Sciences Practice Group can help guide you every step of the way.
IRS directive favorable to pharmaceutical taxpayers claiming research tax credits
A recent IRS directive instructs revenue agents not to challenge pharmaceutical taxpayers’ qualified research expenditures arising during either Stage 1 or Stage 2 of a drug’s development, which should substantially reduce the IRS examination burden for pharmaceutical companies.
New York life sciences companies must act now to capture tax credits
Qualifying companies must act quickly to take advantage of valuable New York state tax credits available through the Qualified Emerging Technology Company (QETC) and the Excelsior Jobs Programs. The QETC Program expired at the end of 2011, but credits can still be claimed on 2011 tax returns by taxpayers that act quickly. Credits available through the Excelsior Jobs Program are still available, but require pre-certification. Because total funds available for some of these programs are capped, your organization should submit its application as soon as possible to maximize its benefits.
Accounting and Tax Treatment for Annual Fee Imposed on Branded Prescription Drug Sales
The Patient Protection and Affordable Care Act imposes an annual fee on the pharmaceutical manufacturing industry for each calendar year beginning on or after Jan. 1, 2011. The Financial Accounting Standards Board issued an update on how pharmaceutical manufacturers should recognize and classify fees, and the IRS released guidelines addressing this annual nondeductible fee on certain manufacturers and importers of brand name pharmaceuticals.
You Received the Qualifying Therapeutic Discovery Project Credit Grant - What's Next?
If you are one of the nearly 3,000 recipients of the $1 billion in Qualifying Therapeutic Discovery Project (QTDP) credits and grants announced on Nov. 3, you now need to decide how to account for the amounts you received.
The Therapeutic Discovery Project Credit and Financial
Many life science-focused companies are eagerly awaiting response from the Internal Revenue Service on applications related to the Qualifying Therapeutic Discovery Project Credit.
Big Pharma and Biotech: All Roads Lead to Collaboration
The financial implications of Pharma and Biotech collaborations is a timely topic. Big Pharma is putting big dollars toward the purchase of and collaborations with Biotech with record amounts of partnership dollars being generated by U.S. Biotechs.
Back to Basics: Tax Merger & Acquisition Issues within the Life Sciences Industry
Learn about the tax considerations companies should address when deciding whether to acquire or dispose of midsized companies within the life sciences industry
The Qualifying Therapeutic Discover Project
President Obama's health care and patient protection bills added new IRC section 48D to enact a provision which allows a tax credit for new therapies to prevent, diagnose and treat acute and chronic diseases.
Sec. 48D Qualifying Therapeutic Discovery Project Credit
Question and Answers from the May 27, 2010 Web seminar