2006 Kansas Angel Investor Tax Credit Program Underway

2006 Kansas Angel Investor Tax Credit Program Underway
More than $900,00 in Tax Credits Remain

The second term of the Kansas Angel Investor Tax Credit Program officially commenced January 1, 2006.

The tax credit program was developed as part of the 2004 Kansas Economic Growth Act and is administered through the 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.

2006 Qualified Businesses

1. Cadstone, L.L.C.

2. Heartland Technologies, Inc.

3. ImmunoGenetix Therapuetics, Inc.

4. Proteon Therapeutics, LLC

5. Kozoru

6. HeadsUp Technologies, LLC

7. Crititech

8. Reflexian

9. Innovia Medical

10. TVAX

2006 Uncommitted Tax
Credit Amount: $946,500

(As of 02/13/06)

The program was so well received in its inaugural year that the $2 million dollar tax credits were issued within 41 days of the program start date. As a result of this demand, the legislation has changed to empower the state, through KTEC, to qualify businesses that have the potential for providing the greatest economic impact to the state. Additionally, KTEC was given the ability to reserve partial credits.

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. The Kansas Angel Tax Credit recieves a $2,000,000 Annual Allocation and a $20,000,000 Cumulative Allocation cap.

Click here for more information on the Kansas Angel Investor Tax Credit Program.