TECHdotMN: News about Minnesota Startups

May 24, 2010 | sourced Comments

By Thomas Lee, MedCity News

“Battle-weary proponents of Minnesota’s historic $60 million angel tax credit had a simple message for the state’s entrepreneurial community:

Now that we passed the darn thing, you better use it!

“We’ve passed the baton onto you,” Sen. Kathy Saltzman (D-Woodbury) told the audience who gathered in Eden Prairie Monday to learn about the tax credit.

“Make good use of it,” said Rep. Tim Mahoney (D-St. Paul)”

Read More…

Resources:

1. Final legislation text
2. MOJO guide
3. DEED’s overview (application window said to open before 8/1)

Small Business Investment Tax Credit (SBITC) aka Angel Tax Credit

January 25, 2010 | by Jeff Pesek Comments

Update IV (2/4/10-2:15pm) – Statement from House Taxes Committee & the House Bioscience and Workforce Development Division:
Angel Investor Credit – House Comm. Press Release

Update III (2/4/10-2:00pm) -Mojo/MN makes a move: http://tech.mn/news/2010/02/04/mojo-minnesota-makes-a-move/

Update II (2/3/10-11:00pm) - Hearing details:

JOINT COMMITTEE: TAXES AND BIOSCIENCE AND WORKFORCE DEVELOPMENT POLICY AND OVERSIGHT DIVISION
TUESDAY, February 9, 2010
10:30 AM
Room: 200 State Office Building – (100 Rev. Dr. Martin Luther King Jr. Blvd. Saint Paul, MN 55155)
Chairs: Rep. Ann Lenczewski, Rep. Tim Mahoney
Agenda: Angel Investor and other Venture Capital Investment Bills

Update I (1/28/10 – 10:30am) – Thanks to those who have indicated their support, so far we’ve received approx. 20 names…way to go! Please continue to spread the good word and don’t hesitate to ask any questions

We’ve been following this topic closely as a result of the need for more exposure and awareness amongst the startup community. This is something that impacts us all, directly or indirectly.

For a thorough background (and what’s at stake), we’ve aggregated a multitude of relevant links, a copy of the draft bill and a call to action from John Alexander (Chairman & Founder of Twin Cities Angels Funds) here.

If you feel that tax incentives can be helpful in generating early stage tech investments (as 29 other states do), speak up here.