New corporate inversion regulations provide useful exception for certain companies *

USA - June 12 2012
On June 7, 2012, the Internal Revenue Service and Department of the Treasury issued new regulations that allow U.S. corporations to determine with greater certainty whether they may avoid application of the anti-inversion rules by qualifying for the substantial business activities exception.

Tax cuts extended and new tax incentives signed into law *

USA - December 17 2010
On December 17, 2010, the President signed into law the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the "Act"), which preserves the 2001 and 2003 tax cuts through 2012, renews the alternative minimum tax patch for 2010 and 2011, cuts the estate tax to 35 percent and allows a $5 million individual exemption, and cuts Social Security payroll taxes by 2 percentage points.

Co-authors: Elizabeth Crouse.

Medical devices qualify for grants, Treasury confirms *

USA - May 24 2010
On May 21, 2010, the Department of the Treasury released its long-awaited guidelines regarding the application process for the qualifying therapeutic discovery tax credit.

Co-authors: Evan Ng.

$1 billion in cash grants available soon for emerging growth life sciences companies *

USA - May 3 2010
The recently enacted healthcare reform legislation provides up to $1 billion in tax credits and cash grants for life sciences companies with 250 or fewer employees that have made or will make "qualified investments" in "qualifying therapeutic discovery projects" during 2009 and 2010.

Co-authors: Evan Ng.