Topeka, Kan. – Secretary of Commerce David Toland announced today that he has reduced the application fee for businesses seeking to participate in the Angel Investor Tax Credit program.
After reducing the application fee from $750 to $500 in February, the Kansas Department of Commerce reduced the fee further to $250, retroactive to July 1, 2019. Applications for companies seeking investment through the Kansas Angel Investor Tax Credit (KAITC) program for 2019 will be accepted through August 31.
The program offers Kansas income tax credits to qualified individuals who provide seed-capital financing for emerging Kansas businesses engaged in development, implementation and commercialization of innovative technologies, products and services.
“The Angel program exists to support small start-up businesses, so it didn’t make sense to charge an application fee that put the program out of reach to the very businesses seeking help,” Toland said. “This is a straightforward, business-friendly move that we hope will encourage more start-ups to apply and make it easier for Kansans to invest in promising new businesses.”
The KAITC Program is designed to bring together accredited “angel” investors with qualified Kansas companies seeking seed and early stage investment. The purpose of the Kansas Angel Investor Tax Credit Act is to help facilitate:
Applications for certification are accepted only for Kansas businesses in the seed and early stage rounds of financing.
Companies must meet the following criteria to be certified as a Qualified Kansas Business:
Certification of companies must meet mandates established by Kansas statute to allow accredited Angel Investors to receive the Kansas Angel Investor Tax Credit.
For more information, visit kansasangels.com or contact:
(785) 296-3345 Office
(785) 207-4755 Mobile
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