Angel Tax Credit
Minnesota's Angel Tax Credit provides a 25-percent credit to investors or investment funds that make equity investments in 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. View our Fact Sheet.
For 2019, $10 million in credits were authorized. As of 12/18/2019, all the credits have been allocated and the program is closed. Any credits allocated but not used for an investment by 12/31/2019 will roll forward to the next program year, 2021.
On the day we ran out of credits, all the credit allocation applications which we had constructively received that day shared proportionally in the remaining credits. Constructive receipt means that the investor certification had been approved and a complete credit allocation application had been submitted; proportional sharing means all applicants that day received some credit, though it may be less than the full 25%.
The 2019 Angel Tax Credit certificates were emailed to investors on 2/14/2020. If you don't see the email in your inbox, please check your Junk or Spam folder. If you unable to locate it, contact us at Angel.Credit@state.mn.us.