Angel investor credit passes Legislature….. in Minnesota

The angel investment tax credit is about to become a reality in the state of Minnesota.

As part of a jobs bill, the long awaited proposal was given a major thumbs up when the Legislature voted overwhelmingly – 58 to 3 – to approve it late Monday. Gov. Tim Pawlenty is expected to sign it.

Through it, angel investors can receive a 25 percent tax credit or 25 cents for every dollar they invest in a certified small business. The minimum investment that an individual investor has to make to receive the tax credit is $10,000 and for a pooled fund it is $30,000.

by Arundhati Parmar

Full Story: http://www.finance-commerce.com/article.cfm/2010/03/31/Angel-investor-credit-passes-Legislature