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.