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 or new proprietary technology. The maximum credit is $125,000 per person, per year ($250,000 if filing jointly). The credit is refundable and non-Minnesota residents (including residents of foreign countries) are eligible.
We are accepting applications for an extra $3 million in tax credits recently authorized for the 2014 program year. The application deadline is Sunday, May 11, 2014.
To be eligible, you must:
Applicants who are not already certified to participate must submit a certification application. Because the application can take up to three weeks to process, you should submit it soon. You will not be considered for the program unless you are certified by the deadline.
Tax credit allocation applications received by the deadline will be given equal consideration, provided all parties to the allocation have also been certified by that date.
Because applications already exceed the $3 million available, the credits will be allocated proportionally to each applicant (so, investors will receive less than a 25-percent tax credit). Applications received after the deadline will not be considered.