MN Startups Applaud Return of Angel Tax Credit

As business leaders and government agencies process the ramifications of the sweeping $3 billion tax bill passed by the Minnesota legislature this week, startup founders and investors are celebrating the return of the Angel Tax Credit, a program designed to stimulate investments in emerging Minnesota businesses by providing a 25% credit to investors (up to $125,000 per person).

The legislature approved $5 million in credits per year for 2023 and 2024 with half of that funding each year reserved for minority and women-owned businesses as well as businesses based in Greater Minnesota. In 2022, 47% of the investment dollars from the program reached those groups, according to the Minnesota Department of Employment and Economic Development.

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