Go East, Angel Investors: Tax Incentives In Delaware Tech
June 11, 2018
Law360
Types : Bylined Articles
On May 24, 2018, Delaware Gov. John Carney signed into law House Bill 170, the Angel Investor Job Creation and Innovation Act, amending Titles 29 and 30 of the Delaware Code in an effort to spur job creation and innovation within the state.
The act is noteworthy to angel investors because it awards a fairly significant tax credit to those who invest in certain Delaware-based small businesses. Though the credit itself is not new, the act amends the state’s current offering to increase the tax credit to an amount up to 25 percent (previously 15 percent) and to allow investors to claim a refund for credits that exceed the total amount of tax due to the state in tax years beginning after 2018 and before 2024. Subject to other limitations, individual investors can receive up to a maximum credit of $125,000 and spouses filing a joint return can claim a credit up to $250,000.
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