ANGEL INVESTOR JOB
CREATION & INNOVATION ACT
OF DELAWARE
The June 15, 2018 issue of
Cape Gazette has a letter by Delaware State Representative
Steve Smyk that mentions
the “Angel Investor Job Creation & Innovation Act..
I thought anything with a
title like this needed 'looking into”.
OK, this from
www.google.com by reporter
Holly Quinn dated May 25, 2018 at
9:50 am.
It is house Bill 170 which
Gov John Carney signed into law Thursday. It is noted
that it is for small
technology companies, but, what is it and how can it help you if
you are
other than a startup or
potential startup investor. Here it is, “Broken Down” as they
say on
google.com :
The act is an amendment
to Titles 29 & 30 Delaware Code “which entitles qualified
investors 'angel' investors
to a TAX credit.
It does away with Title
29, the “ Delaware Investment Tax Credit Program” .
The credit amount is
changed from 15% to an amount up to 25% 'to be determined'
by the director of
Division of Small Business Development & Tourism.
Before this amendment ,
credit could not exceed the total of TAX due, but now, it can,
so it is possible to
receive credit as a tax refund.
For an individual
investor a minimum investment in a small tech company is
$10,000 a calendar year
or $30,000 for a fund.
The incentive here is to
encourage more investment in a specific sort of Delaware
tech startup that is
committed to innovating the state.
What you need to qualify
to start a small tech company : You need to by based in
Delaware, 51% of
employees be in Delaware, fewer than 25 employees, a tech in
high tech field,
employee wages federal minimum. A 10 year business record, no
previous investment more
than $4.000,000 and no public exchange holding.
Business has to be
certified and investors need to be qualified investor.
Understand?
06/15/18 Harrison Howeth
abasract .
No comments:
Post a Comment