Raising money is one of the biggest challenges an entrepreneur faces when starting a business. So, in the late '80s, the state of Maine decided to help by creating the Seed Capital Tax Credit program. It's administered by FAME - the Finance Authority of Maine - and it gives investors a tax credit up to a 60 percent on investments in qualified businesses.
So, if someone invests $100,000 in a company, they could get $60,000 back in tax credits over the course of four years. "I'd say it's important in a couple ways," says Tim Agnew, a principal at Masthead Venture Partners in Portland who wass the CEO of FAME for 11 years.
To read the full, original article click on this link: Maine Seed Money Program Running out of Funds
