(The Center Square) – Wisconsin’s Department of Economic Development has awarded $3 million in tax credits to investors in 14 startups in the state so far in 2024.
The tax credits are part of the state’s Qualified New Business Venture program, which began in 2005. It gives 25% transferrable tax credits for investors in qualified new businesses capped at $3 million for a $12 million cash equity investment.
Businesses can apply for the credits for investors if they are developing innovative products, processes or services and are headquartered in Wisconsin, have fewer than 100 employees with 51% based in Wisconsin and have been in operation for 10 consecutive years or less.
The investor cannot control or be closely related to someone who controls more than 20% of the company...
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- - Volume: 24 - WEEK: 12 Date: 3/20/2024 2:11:02 PM -