The 2013-15 state budget eliminates the $47.5 million cap on the maximum amount of angel investment tax credits that the Wisconsin Economic Development Corporation (WEDC) can allocate.
The angel investment tax credit equals 25% of a claimant’s bona fide angel investment made directly in a qualified new business venture (QNBV) certified by WEDC. The credit is claimed on the individual income tax.
There is a $20 million maximum aggregate amount of angel investment credits that can be claimed in one year, plus an additional $250,000 for tax credits claimed for nanotechnology investments.
About $36 million in angel investment tax credits have been claimed since 2005. The state would likely have hit the $47.5 million cap in 2014 without having it removed.
WEDC also offers early stage seed investment tax credits, which are equal to 25% of a claimant’s investment paid in one year to a certified investment manager who invests in a QNBV certified by WEDC. This credit can be claimed on the individual income, corporate income and franchise, and insurance premium taxes.
A cap on the maximum amount of early stage seed investment tax credits was eliminated in early 2009 as part of a budget repair bill.
Eliminate Angel Investment Tax Credit Cap
Share:
LOOKING FOR MORE NEWS?
Nick Novak
For more information or to schedule an interview, please contact
Nick Novak | Vice President Communications & Marketing | 608.258.3400
NEWS
Related Posts
Scott Manley on Biden Administration’s New Emission Standards
Kristen Nupson
April 5, 2024
https://www.youtube.com/watch?v=NDqEr0VTJoE After the announcement of the Biden Administration’s new emission standards being applied to long-haul and large vehicles, WMC’s Scott Manley joined Vicki McKenna to
WMC Disappointed in Superior City Council Vote Opposing Affordable & Reliable Energy Project
Nick Novak
April 4, 2024
MADISON – The Superior City Council denied local approvals on Wednesday for the Nemadji Trail Energy Center (NTEC), which would play a critical role in
ICYMI: Ron Wanek Defends Free Enterprise, Promotes Community Stewardship During Manufacturing Hall of Fame Induction
Nick Novak
March 19, 2024
Ashley Furniture Industries Founder Becomes First Modern-Era Inductee, Joining 78 Other Wisconsin Titans of Industry MADISON – Wisconsin Manufacturers & Commerce (WMC) – the combined
WMC Applauds Legislature’s Passage of EV Charging Legislation, Encourages Evers to Sign Bill
Nick Novak
March 12, 2024
MADISON – On Tuesday, the Wisconsin state Senate passed a final version of SB 791, a bill allowing private business to offer electric vehicle charging