1 ANGEL INVESTOR TAX CREDIT October 28, 2009. 2 ANGEL INVESTOR TAX CREDIT PROGRAM What is it?  State tax credit program to reward qualified, individual.

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Presentation transcript:

1 ANGEL INVESTOR TAX CREDIT October 28, 2009

2 ANGEL INVESTOR TAX CREDIT PROGRAM What is it?  State tax credit program to reward qualified, individual investors for investing in early stage, wealth-creating Louisiana businesses Benefits:  Accredited angel investors receive a refundable Louisiana. income tax credit up to 50% of investment in a business certified by LED as a Louisiana Entrepreneurial Business  Tax credit realized equally over five-year period

3 Requirements for Louisiana Entrepreneurial Business  Fully developed business plan, including Source & Use statement for the invested funds  Principal business operations, including primary place of employment, in Louisiana  Not engaged in retail sales, real estate, professional services, gaming or gambling, natural resource extraction or exploration, or financial services  Over 50% of sales derived from outside Louisiana  Registered and in “good standing” with Secretary of State  Louisiana Tax Identification Number

4 Angel Investor Requirements  Person with individual/joint net worth exceeding $1 million at time of investment  Individual income over $200,000 or joint income with spouse over $300,000 for last 2 years  Angel Pool (LLC or LLP) comprised only of Accredited Investors  Persons including corporations, partnerships, LLCs, LLPs, composed of Accredited Investors provided each person’s share of tax credit does not exceed share of profits of the Louisiana Entrepreneurial Business

5 ANGEL INVESTOR TAX CREDIT PROGRAM  Origin – Regular Session Amended Regular Session 2007 (refundable amendment).  Sunsets 12/31/2009.  Status – Through tax year 2008: –65 Louisiana Entrepreneurial Businesses –36 LEBs received investment –$43.5 million invested –$17.1 million tax credit issued –Over 200 angel investors participated

6 AITCP DATA THROUGH 2008 Year# LEBs# Investors$ Invested% Tax Credit $4.4 million50.0% $9.7 million50.0% $14.0 million41.5% $15.4 million32.6%

7 Thank-you LouisianaEconomicDevelopment.com Information in this presentation is a synopsis of the programs described. Statutory and rule requirements must be followed for all programs.