TRENTON — Legislation that will provide an incentive for investment groups and individuals to invest in the state’s emerging technology businesses was approved Thursday by the Senate Budget and Appropriations Committee.
Also known as the “New Jersey Angel Investor Tax Credit Act,” the bill sponsored by Sen. Fred Madden, D-Washington Township, would create specific gross income and corporate business tax credits for start-up investments of up to $500,000 made in state-based high-tech and biotechnology companies. So-called “angel investors” are individual entrepreneurs — or groups — who provide the massive capital investments that start-up technology businesses need to get up and running.
To read the full, original article click on this link: Madden bill calls on 'Angels' to invest in N.J. | NJ.com
Author:John Barna/Gloucester County Times
