Tax Credits Are Your Friend

Posted on Tuesday, September 2nd, 2014

Approximately half of the states in the United States now offer some sort of tax credit to spark entrepreneurial growth and/or start-up investment. Each state tax credit program is unique and has different requirements and benefits (types of business or industry, amount of tax credit, refundable or non-refundable tax credits, etc.) but Minnesota has an excellent tax credit program that should not be ignored. In fact, the Minnesota Angel Tax Credit program has been exhausted earlier in the calendar year in recent years. These programs are great incentives for investors and for entrepreneurs and may just mean the difference between a viable early stage business with adequate investment capital and one that does not succeed. It is not too late to start thinking about 2015 tax credits in Minnesota.

A few other tax sources to consider for your start-up: