GOP lawmakers want to allow angel investors to transfer tax credits earned through investments in certain startups.
Rep. Robert Wittke of Racine and Sen. Dan Feyen of Fond du Lac recently began circulating legislation in a co-sponsorship memo, which touts the success of the state’s Qualified New Business Venture program. This program of the Wisconsin Economic Development Corporation aims to encourage more early-stage investment in the state.
It offers tax credits to eligible angel and venture fund investors making cash equity investments in qualifying startups. Investors that meet the program’s eligibility requirements can receive a state income tax credit equal to 25% of the investment made in the QNBV-certified business, the memo shows.
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