Carney highlights tax incentives for small businesses

The Newark Post


U.S. Representative John Carney held a press conference Monday afternoon to discuss federal tax incentives for small businesses.  The event was hosted by ANP Technologies, a Newark-based small business that specializes in technology development for pharmaceutical, biotechnology, and defense industries.  Dr. Ray Yin, Founder and Chief Technology Officer for ANP Technologies, discussed how his business has benefited from federal tax incentives, such as the Research & Development tax credit, and Jayne Armstrong, District Director for the Small Business Administration, spoke about programs offered by the SBA to help business owners and entrepreneurs start and expand their businesses.


“Small businesses are a vital part of the state and national economy,” said Congressman Carney.  “Seventy percent of job growth across the nation is due to the expansion of small businesses.  There are a number of incentives available to help small businesses grow and expand.  With the federal tax deadline approaching, I want to make sure that Delaware businesses are taking full advantage of the resources available to them.”


Among the tax incentives and credits that Congressman Carney discussed were:

  • Payroll and Self-Employment tax holiday of 2% during 2011

  • Tax credit of up to 35% of an employer’s healthcare costs for employee premiums

  • Two-year extension of the Research & Development tax credit to support science and tech-based small businesses

      • “On behalf of small businesses throughout the country, and specifically biotechnology startups, such as ANP Technologies, we applaud Congressman Carney’s sensitivity to the industry’s needs,” said Dr. Yin, Founder of ANP Technologies.  “Small businesses constantly struggle with financial issues that hinder their ability to grow and prosper. Any relief from that burden is always a welcomed opportunity." 

      “SBA offers a wide range of programs and services to help entrepreneurs start, build, and grow their businesses,” said Jayne Armstrong, SBA District Director.  “We appreciate every opportunity to communicate with Delaware small businesses.  The services we offer, such as financing, counseling, training, government contracting, and disaster recovery assistance support small businesses’ efforts to succeed, and help create job opportunities for Delaware workers.”