A Startup Company that would qualify for the Startup & Innovation Tax Credit would be:

  1. a corporation or partnership, if the gross receipts … of such entity for the taxable year is less than $5M and
  2. such entity did not have gross receipts for any taxable year preceding the 5-taxable-year period ending with such taxable year

With the following stipulations:

  • Active less than 6 years (TY 2016 - nothing prior to 2012)
  • Gross receipts under $5M 
  • Annual payroll of $250,000

  • Life Sciences - Comprises the fields of science that involve the study of living organisms, such as microorganisms, plants, animals, and human beings as well as bioethics.
    • Biotech
    • Pharmaceuticals
    • Bio Med
    • Cosmeceuticals
    •  Medical Devices 
  • Software & Information Technology - Is the application of computers and telecommunications equipment to store, retrieve, transmit and manipulate data, often in the context of a business or other enterprise.  The definition consists of three categories: 1) techniques for processing, 2) the application of statistical and mathematical methods to decision-making, and 3) the simulation of higher-order thinking through computer programs.
    • Hardware & Software
    • Computer Services
    • Internet
    • Telecom Equipment
    • Engineering
    • Healthcare
    • eCommerce