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.
A total of $16 million in tax credits is available, divided into two parts:
We are currently accepting certification applications and credit allocation applications; we will do so until the credits are exhausted. 2014 Angel Tax Credit Certificates were mailed to investors on Jan. 5; check your spam box if you didn't see it.
"Insiders” are no longer eligible for the credit. That includes officers, principals, 20-percent owners and family with ownership interests combined, and family of these insiders.