The Illinois Angel Investment Credit Program attracts and encourages investment dollars into early-stage, innovative companies throughout Illinois. Investments provide these companies with much needed access to working capital to further their growth and success in our state. Tax credits are allocated throughout the year and are awarded on a first-come, first-served basis.
Since 2011, the Illinois Angel Investment Credit Program has provided $26.9 Million in early-stage investments for 31 Illinois life sciences startups.
The qualified new business venture (QNBV) registration is a very important for both Startups and Investors as this state program provides great advantages for both involved parties.
Illinois startup companies and angel investors are invited to join a Startup Port workshop on the Illinois Angel Investment Credit Program. Attendees will learn about changes to the program and how they can register to be eligible for this program.
BUSINESSES: Businesses must register for each taxable year in which they desire to be a qualified new business venture (QNBV). Businesses seeking eligibility with the program must satisfy some basic requirements. In our Workshop we will show you the details on how to make sure to qualify.
INVESTORS: Offers tax credits to qualifying claimants in an amount equal to 25% of the claimant’s investment made directly in a qualified new business venture. *If an investor places $100,000 into an eligible business, they would receive a $25,000 tax credit. While the tax credit may not exceed the taxpayer’s Illinois income tax liability for the taxable year, the credit may be carried forward for up to 5 years following the excess credit year. Potential Angel investors must adhere to some basic requirements. Our Workshop will go into the taxation details to qualify.
But this opportunity is not forever. Tax credits are allocated throughout the year and are awarded on a first-come, first-served basis. So sign-up soon.
Where? 332 S Michigan Avenue, Suite 1100
When? Thursday, April 5th 2018 from 5 pm to 7 pm
To sign up: Sign up from this link. (Eventbrite sign-up page coming next week.)