Minnesota's Angel Tax Credit provides a 25-percent credit to investors or investment funds that put money into startup companies focused on high technology, new proprietary technology, or a new proprietary product, process or service in specified fields. The maximum credit is $125,000 per person, per year ($250,000 if filing jointly). The credit is refundable. Residents of other states and foreign countries are eligible.
For 2015, $16 million in credits was available. As of Nov. 17, all of the credits have been allocated and the program is closed. Any unused 2015 credit allocations will roll forward to the 2016 program.
For 2016, $15 million in credits is available, $7.5 million of which is reserved until Sept. 30, 2016, for minority- and women-owned businesses, as well as businesses located in Greater Minnesota.
Businesses can submit 2016 certification applications and 2015 annual reports online, as well as pay fees online. Follow the links on the For Businesses page's "Apply" tab.