Angel tax credit program getting wings in Arizona thanks to Gov. Janet Napolitano

Arizona’s long-awaited angel investment tax credit program kicks into effect July 1 with the hopes of boosting investment in the state’s promising young companies.

Passed by the Legislature and signed by Gov. Janet Napolitano last summer, the Small Business Capital Investment Incentive Program offers

30 percent to 35 percent tax breaks to local angel investors who invest between $25,000 and $250,000 in qualified Arizona-based startup companies.

Tax credits would be doled out to investors over three years, with the program capped at $20 million in credits over five years.

The tax credit is designed to help meet a critical need for many Arizona entrepreneurs and young tech companies: early-stage funding.

by Adam Kress
The Business Journal

Full Story: http://phoenix.bizjournals.com/phoenix/stories/2006/07/03/story4.html