Minnesota Passes Angel Tax Credit for High-tech Newcos
The Minnesota “Small Business Tax Investment Credit,” which was just signed into law, is expected to contribute more than $50 million in tax credits over five years.
“The law will reward “angel” investors with a 25-cent tax credit for every dollar invested. Under the law’s definition, these investors are backers of specific [high-tech] businesses that are less than 10 years old.”
From the U. of Minn tech-transfer perspective:
“It will make it easier to finance startup companies that are formed to commercialize University technology,” said Doug Johnson, director of the University’s Venture Center within the Office for Technology Commercialization.”