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- Title
California bill abets biotech.
- Authors
Huggett, Brady
- Abstract
This article discusses a law passed in California that allows companies to carry their net operating losses forward in tax filings for 20 years will aid the biotechnology industry. This is framed as a benefit to the financing of biotechnology companies by allowing them to avoid tax penalties associated with rapid shifts from operating losses to profitability. This law brings the California tax code into line with related laws in other states.
- Subjects
CALIFORNIA; UNITED States; STATE taxation laws; TAXATION; U.S. states; CALIFORNIA state politics &; government, 1951-; CORPORATE tax laws; BIOTECHNOLOGY industry laws
- Publication
Nature Biotechnology, 2008, Vol 26, Issue 12, p1322
- ISSN
1087-0156
- Publication type
Article
- DOI
10.1038/nbt1208-1322a