The Minnesota Angel Tax Credit provides a 25% credit to investors or investment funds that make equity investments in startup companies focused on high technology, new proprietary technology, or a new proprietary product, process or service in specified fields. The maximum credit is $125,000 per person, per year ($250,000 if filing jointly). The credit is refundable. Residents of other states and foreign countries are eligible.
SubioMed Inc. has been certified for participation in the 2022 Minnesota Angel Tax Credit program.
Total cost to the investor is $550 ($350 to apply for Certification and $100 to submit Annual Reports in 2023 and 2024).
For 2022, $5 million in credits is available, $2.5 million of which is reserved for minority- and women-owned businesses, as well as businesses located in Greater Minnesota ("targeted businesses"), until 9/30/22, at which time any unused reserved credits become available for investment in any qualified business.
As of May 5, 2022, $186,000 in general credits and $552,000 in targeted credits remain available for allocation.
We encourage potential investors to learn more by visiting Angel Tax Credit Investors at https://mn.gov/deed/business/financing-business/tax-credits/angel-tax-credit/for-investors/
To participate in 2022, investors will need to:
Log into their account https://apps.deed.state.mn.us/atc/Login.aspx?ReturnUrl=%2fatc%2f
Complete an online Investor Certification Application and pay the non-refundable filing fee
Upon Certification, SubioMed and the investor jointly complete a Credit Allocation Application