Annual Report Due in Minnesota Angel Tax Credit Program
12/22/2011
Investors who made investments pursuant to the Minnesota Angel Tax Credit Program must file a 2011 Annual Report by February 1, 2012. The filing fee is $100; there is a statute-mandated additional $500 penalty for annual reports postmarked after February 1, 2012.
Investors must file reports for three years—for the year a qualifying investment was made and the next two years. This reporting requirement corresponds with the program’s requirement that the investment be held for three years (see the form for allowed exceptions). Please note: failure to hold the investment for three years requires repayment of the credit.
If you have questions about the annual reporting requirement or other aspects of the program, please contact Kim Ann at Kimberly.Ann@state.mn.us. The form is available at www.positivelyminnesota.com/angelcredit.