Angel Tax Credit starts July 1

June 6, 2006

By hammersmith

The Angel Investment Tax Credit is approaching its start date of July 1, 2006.

Passed last year by the Legislature, the program will allow individuals who choose to invest in tech companies to be eligible for a 30 percent credit on state taxes over a period of three years. Those who invest in a biotech or rural company receive a credit of 35 percent.

Applications will be submitted electronically, and the tax credit will be given on a first-come, first-served basis.

Any investments made before July 1 will not be eligible for the tax credit.

The Arizona Department of Commerce will hold two information sessions to help businesses and individuals learn more about the program. Details are available on the Commerce Department Web site.

For more information:

Arizona Department of Commerce Angel Credit information

Legislature passes tax-credit bill for angel investors,” 05/10/2005