Chapter One: Tax Transfer Corporation of New Jersey
The Tax Transfer Corporation of New Jersey was formed in 1999, immediately following the establishment of the New Jersey Technology Business Tax Certificate Transfer Program. This innovative program allows technology and biotech companies to sell their accumulated losses to profitable companies at a discount. The result: promising new technology/biotech companies are given the much-needed capital to succeed, and New Jersey’s largest taxpayers realize tax savings, which are reinvested. Tax Transfer Corporation facilitates these transfers by effectively matching sellers with appropriate buyers. Since the beginning of the Technology Tax Credit Program , Tax Transfer Corporation has placed hundreds of millions of New Jersey technology/biotech credits, working very closely with the tax departments of some of the world’s largest and most profitable corporations.
The Next Chapter: Tax Credits, LLC
In 2005, ahead of the film incentive program boom, Tax Credits, LLC was founded. Because the majority of our New Jersey technology credit buyers had a multi-state tax liability, Tax Credits, LLC was uniquely positioned to now deliver tradeable film tax credits from multiple states, further increasing buyers’ tax savings. In addition, our professionals worked with the legislatures of many states to ensure that all of the parties involved — the production companies (sellers), the buyers, and the states– benefited from these programs. Today, most states enjoy a professional and reliable film tax credit market that allows a studio or production company to monetize the full value of the credit. Moreover, risk to the buyer has been eliminated in most states as a result of good legislation.
The Best Chapter (so far): Tax Credits International, Inc.
In 2014, Tax Credits International, Inc. (“TCI”) was founded in Puerto Rico, to take advantage of the Act 20 and Act 22 programs. These programs were established to stimulate the local economy by offering preferential tax treatment to eligible service exporters that re-located to the beautiful island of Puerto Rico. A perfect candidate for the program, TCI received its Act 20 decree in just a few months. Today, TCI is committed to upholding the professionalism that was the cornerstone of its predecessor companies’ success. In addition to traditional tax credit placement services, TCI has expanded to include film production services, as well as Act 20/22 consulting.
The professionals of Tax Credits International, Inc. are committed to supporting the ongoing development of successful state incentive tax credit programs, in the US and in Puerto Rico. Our goal is to provide our clients with the highest possible value and risk-free transactions.