Update: Angel Tax Credit/CT Jobs Bill

As you may know from prior posts, the Connecticut legislature recently announced good news for entrepreneurs in the form of a bill to help increase Connecticut’s competitiveness and address the growth agenda, especially in the area of small business and start-ups. Debt and equity financing measures are included in the “jobs” bill, but specific policy and administration is being handled by specific agencies.

The first of the programs now has some new flesh around it – Connecticut Innovations announced yesterday the launch of the Angel Tax Credit portion of the bill which is designed to incent angel investors to fund Connecticut businesses.

“Under the Angel Investor Tax Credit Program eligible angel investors may take a credit against Connecticut state income tax for certain investments made in qualifying businesses. Investments must be at least $100,000 in order to be considered under the program and the tax credit equals 25% of the cash investment, up to $ 250,000.”

Whether you are an entrepreneur who wants to apply to become a qualified business, or you are an angel interested in the credit, you can learn more at www.ctangeltaxcredit.com.