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 $16 million in tax credits is available, divided into two parts:
- $7.5 million is reserved until Sept. 30 for investments in businesses owned by women or minorities or in businesses located in Greater Minnesota. As of 1/26/2015, $6.0 million remains. After Oct. 1, any remaining tax credits not allocated to these targeted businesses will be made available to others.
- Another $8.5 million in credits (including unused credits from 2014) is available for investments in other businesses. As of 1/26/2015, $5.5 million remains.
Dignity by Design Enterprise
Angel.co/Dignity by Design
Proprietary Social Impact product: Professional Clothing made exclusively for the Disabled, Elderly and Veteran