As part of the Talent and Innovation Initiative, the Angel Investment Tax Credit Act provides refundable state income tax credits to qualified investors that invest in qualified early-stage companies.

Key elements of the Angel Investment Tax Credit Program:

1. DED certifies qualified:
   1. individual investors - minimum investment of $25,000 per year
   2. investment funds - minimum investment of $50,000 per year, minimum of three investors
2. DED certifies qualified small businesses:
   1. Nebraska-based with more than 51% of employees in Nebraska
   2. Shall have 25 or fewer employees at time of investment
3. Maximum credits of $350,000 for couples filing joint return at $300,000 for single filers
4. Maximum amount of tax credits allocated for investments in any one business limited to $1 million
5. 40% refundable tax credit in Distressed Areas, 35% in Non-distressed
6. Focus on high-tech businesses

There are $3 million available in total credits per year.

Applications will be accepted on an ongoing basis beginning August 10, 2011.
Allocations of certification for tax credits start September 1, 2011.

Guidelines

• Program Guidelines
• Schedule of Distressed Areas
• Invest Nebraska Angel Sidecar Progress Fund

Application

• Application for Certification as a Qualified Investor—Individual
  • Qualified Investor Checklist
• Application for Certification as a Qualified Investor—Trust
• Application for Certification as a Qualified Investor—Pass-through Entity
• Application for Certification as a Qualified Fund
  
  • Qualified Fund Checklist
• Application for Certification as a Qualified Small Business
  • Qualified Small Business Checklist
• Application for Allocation of Tax Credits

Additional Forms

• Notification of Qualified Investment
• Notification of Qualified Fund Investors
• Notification of Failure to Make Qualified Investment
• Notification of Qualified Small Business Insolvency
• Annual Report of Qualified Small Business, Qualified Investor, and Qualified Fund