Legislation Passed For New Business Ventures

June 4, 2010

Illinois General Assembly passed legislation providing an income tax credit for early or “angel” investments in qualified new business ventures. The credit shall be equal to 25% of the amount invested and may be carried forward for a period of 5 years.

This legislation now heads to the governor. Please contact us in the event you have any questions about the proposed legislation.

For complete details on the status of the INC TX-ANGEL INVESTMENT CREDIT (SB3710) go to Illinois General Assembly.

We would like to thank SBAC member, Haydee Caldero, of Dignitas for bringing this to our attention.

To learn more about Dignitas go to: http://www.mydignitas.com/index.html