The New Jersey Economic Development Authority (NJEDA) is accepting applications now through June 30 for the Technology Business Tax Certificate Transfer Program, commonly known as the Net Operating Loss (NOL) Program.
The NOL Program allows early-stage technology and life sciences companies in New Jersey to sell a percentage of their net operating losses and unused research and development (R&D) tax credits to unrelated profitable corporations for cash.
An informational webinar will be held on Thursday, May 21 at 12:00 p.m. Go here to register.
The NOL program supports innovative startups by enabling qualified, unprofitable New Jersey-based technology or biotechnology companies with fewer than 225 U.S. employees to sell a percentage of its net operating losses and R&D tax credits. Participants can use the capital raised through the NOL program to help cover allowable costs incurred in connection with operating their businesses such as salaries, R&D, and other working capital expenditures
In 2025, an economic impact assessment found that the NOL Program is crucial to driving economic activity and enhancing business sustainability in the state, with more than half of the 589 program recipients continuing to operate in New Jersey and employ an estimated 31,200 workers.
Technology and biotechnology companies with no more than 224 employees are eligible to apply for the NOL Program. Up to $75 million is available annually, with up to $15 million set aside for businesses located in Innovation Zones, Opportunity Zones, or New Jersey-certified minority and/or woman-owned businesses.
Full application and eligibility requirements can be found here.
Applications for the NOL Program will close on Tuesday, June 30, at 11:59 p.m.
