Therapeutic discovery project
The Qualifying Therapeutic Discovery Project Tax Credit was included in the Health Care Reform Bill to foster medical, life sciences, and biological innovation in the U.S. Many firms across the country could potentially be eligible for a Credit or Grant under this program. The Bill enables Treasury to allocate a maximum of $1 Billion in tax credits or grants to eligible companies. Treasury with guidance from Health & Human Services will accept, review, and certify applications. Potentially eligible companies should consult with their respective tax professionals to assess eligibility.