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 2016, $15.5 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. As of 2/01/2016, $7.0M remains available for these businesses and $7.4M remains for general businesses.
We are currently accepting 2016 certification and credit allocation applications. We are also accepting 2015 annual reports from those who have made or received investments through the program; these are due by February 1 (or must be post-marked by February 1) to avoid the $500 late filing penalty.
2015 Angel Tax Credit Certificates will be emailed to investors in mid-February 2016.
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.