2007 Kansas Angel
Investor Tax Credit Program Commences
More than $2.2
million in tax credits available in 2007
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The third term of the Kansas Angel
Investor Tax Credit Program officially commenced January
1. The tax credit program was developed as part of the
2004 Kansas Economic Growth Act and is administered
through the Kansas Technology Enterprise Corporation
(KTEC). Under this program, a Kansas Angel-accredited
investor will be allowed a 50% tax credit on cash investments
of up to $50,000 in a qualified Kansas business.
The goal of the Kansas Angel Investor
Tax Credit Program is to provide investors with tax
credits against Kansas Income Tax liability, thereby
fostering investments in seed and early-stage capital
financing for emerging Kansas businesses. The program
cultivates the development, implementation and commercialization
of innovative technologies, products and services in
Kansas.
“For investors, tax credits make
a good investment opportunity - a great investment opportunity,”
said Trish Brasted President and CEO of Wichita Technology
Corporation and founding member of the Midwest Venture
Alliance. “As an investor, if I am looking at
three or four deals that are similar in profile, the
tax credits usually make the difference in who will
receive the check.”
“Of the money Immunogenetix Therapeutics
Inc. has raised to date, a quarter of that has come
into the company due to the angel tax credits in Kansas,”
Immunogenetix President James Laufenberg, Lenexa said.
“The tax credits provide substantial support to
an emerging company at this stage and help to create
additional interest in the opportunity.”
“Most investors view an early
stage investment as high-risk and the tax credits help
motivate them to support small companies in helping
them grow,” said Stan Brannan, President and CEO
of Heartland Technologies Inc., Wichita. “This
is an important program to try to keep the brain drain
from taking entrepreneurs to other cities to start and
grow their companies. Kansas needs competitive jobs
to keep high-producing employees from leaving the state.”
“The Kansas Angel Tax Credit
program continues to be refined and add value to the
overall capital formation in the state of Kansas,”
said Tracy Taylor, President and CEO of KTEC.
For companies interested in qualifying
as a Kansas Business, or for information on how to apply
for the credits, please click
here.
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