Angel Tax Credit funding included in supplemental budget bill
Last week, Governor Dayton signed the supplemental budget, which contained a one-year extension of the Angel Tax Credit funded at $10 million. Without this funding, the credit would have ended once this year’s funding was exhausted.
50 percent of the funding must be allocated to credits for qualifying investments in qualified greater Minnesota businesses and minority- or women-owned qualified small businesses in Minnesota. If any of that funding is not allocated by September 30, it becomes available for allocation to other credit applications beginning on October 1.
The Angel Tax Credit is an important mechanism for encouraging investment in startups across Minnesota.View Resource