KAITC

The Kansas Angel Investor Tax Credit Act (KAITC) was enacted in 2004 with the purpose of facilitating the availability of equity investment in businesses in the early stages of commercial development and to assist in the creation and expansion of Kansas businesses with the goal of encouraging individuals to provide seed-capital financing for emerging, Kansas businesses engaged in the development, implementation and commercialization of innovative technologies, products and services. The “Kansas Angels” program helps provide access to capital for Kansas start-ups.”

Please note in the chart below:

“Tax Credits Issued” reflects the total value of tax credits certified by the Kansas Department of Commerce in the applicable program year pursuant to K.S.A. 74-8131 through K.S.A. 74-8137, upon verification that the investor and business met all statutory eligibility requirements. Issuance of a tax credit does not constitute a tax liability reduction until the credit is claimed with KDOR.

“Tax Credits Claimed” reflects amounts applied against Kansas tax liability as reported to the Kansas Department of Revenue (KDOR) in the specified tax year. Kansas tax credits issued under this program are non-refundable and may be carried forward until exhausted pursuant to K.S.A. 74-8136. Accordingly, credits claimed in any given year may include credits issued in prior program years. The year in which a credit is claimed does not necessarily indicate the year in which the underlying investment was made or the credit was issued.