CN-
I am sorry if my posts upset you but,you are not telling the true story about the NJEDA program.
There is no Payback ever from what I have read. The funds are free and clear to Inergetics after fees are taken out from the awarded amounts which in this case is $3,351,000 and $3,051,000 after fees.
The Program is called Tax Certificate Transfer Program.
I have read the facts and requirements concerning the NJEDA Program and how and why NJ offers it. It helps Companies who are losing money in certain areas of business to receive working capital based on their NJ State Tax loss carry forward at a time when they really need the funds to move forward. Once the Company turns profitable, it pays tax on the profits just like profitable companies and cannot use any of the Tax Loss Carry forward they were awarded and used up in the program again.
Your posts lately fall short in accuracy and may make posters confused as to what the awarded amounts translate into. Calling it a Tax Credit infers they won't have to pay the tax but the Tax Loss Transfer is that they transfer their State Tax Loss carry forward to a profitable company for CASH.
There is NO PAYBACK EVER!!! from what I have read.
