Minnesota's Angel Tax Credit provides a 25-percent credit to investors or investment funds that put money into startup companies focused on high technology or new proprietary technology. The maximum credit is $125,000 per person, per year ($250,000 if filing jointly). The credit is refundable and non-Minnesota residents (including residents of foreign countries) are eligible.
A total of $12.2 million in tax credits was available for calendar year 2014. As of March 3, all the tax credits have been allocated and the program is closed. Should the 2014 Legislature provide additional funding for this year, we will reopen the program; we should know this by the end of May. We will no longer accept 2014 certification applications until we know whether the program will reopen, and we will no longer accept 2014 credit allocation applications until we have funding in place.