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, new proprietary technology, or a new proprietary product, process or service in specified fields. The maximum credit is $125,000 per person, per year ($250,000 if filing jointly). The credit is refundable. Residents of other states and foreign countries are eligible.
A total of $15 million in tax credits is available, divided into two equal parts:
We are currently accepting certification applications for the 2015 program. We'll begin accepting credit allocation applications on Jan. 1.
"Insiders” are no longer eligible for the credit. That includes officers, principals, 20-percent owners and family with ownership interests combined, and family of these insiders.