Minnesota Launches Tax Credits for High-Tech Investors

The angel investor tax credit, for which applications are now being accepted, gives a 25 percent tax break for investments of up to $4 million.

Those investing in the state’s high-tech start-ups can start applying this week for Minnesota’s angel investor tax credit.

The new tax credit, signed into law on April 1, gives a 25 percent tax break to individuals and investment funds that provide as much as $4 million in seed money to businesses focused on high technology or new proprietary technology.

A total of $11 million in tax credits is available for 2010. The state will fund $12 million in credits annually between 2011 and 2014. Credits will not exceed $125,000 per person per year.

—Christa Meland
([email protected])

Full Story: http://tcbmag.blogs.com/daily_developments/2010/07/mn-launches-tax-credits-for-hightech-investors.html