Minnesota’s Angel Tax Credit Is Back. Here’s What You Need to Know.
Wednesday, June 12, 2019
Minnesota Gov. Tim Walz and other state lawmakers have reinstated a program that gives tax breaks to investors backing Minnesota startups.
The angel tax credit provides incentives to investors backing small businesses in Minnesota. It was (in general) popular among local startups, and when you look at the numbers it’s easy to see why.
Between 2010 and 2017, more than $420 million was invested in 855 Minnesota businesses through the state’s angel tax credit program, according to the Department of Employment and Economic Development. In 2017, about 48 percent of investors were non-Minnesotans whose investments made up about 53 percent of all investment that year.
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