May 23, 2016

Angel investor tax credit extended

Connecticut's angel investor tax credit, which was set to expire July 1, has been extended by three years, through July 1, 2019.

State lawmakers approved the extension as part of their $19.76 billion budget hatched recently in special session.

The credit, which is available through the state's quasi-public venture arm Connecticut Innovations Inc., applies against the personal income tax and equals 25 percent of the amount taxpayers invest in technology-based businesses, up to $250,000.

State law also allows investors to sell, assign or transfer all or part of the credit to other taxpayers.

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