Michigan’s angel, venture capital and entrepreneur communities are hailing this week’s passage by the state Legislature of tax breaks for angel investors. The bill, passed by both houses and expected to be signed into law by Gov. Jennifer Granholm, gives angel investors a 25 percent tax credit over two years, with a maximum of $250,000 per year and per investment.
The legislation was pushed heavily by angel investors in the state and by the Michigan Venture Capital Association. Longtime Michigan angel investor Terry Cross says that while he has not read the final bill yet, he is optimistic about it.
To read the full, original article click on this link: Bill Allowing 25% Tax Credits For Angel Investors Heads For Michigan Governor’s Signature | Xconomy
Author: Howard Lovy
