Reimbursement credits due under the CARES Act

ArborGen Holdings Limited has announced that its subsidiary in the US, ArborGen Inc., is likely to receive US$2 million in Employee Retention Credits under the Coronavirus Aid Relief and Economic Security (CARES) Act.

The CARES Act provides businesses with a credit for payroll taxes paid on wages between March 2020 and September 2021.

ArborGen Inc.

will need to file amended quarterly payroll tax forms with the Internal Revenue Service (IRS) to receive the credit, which is expected to amount to approximately US$2 million.