Establishes the Missouri Angel Investment Incentive Act to provide tax credits for investments in qualified Missouri businesses.
The Missouri Angel Investment Incentive Act establishes a tax credit program for investors in qualified Missouri businesses. A qualified Missouri business must be approved by the Missouri Technology Corporation (MTC) and meet criteria such as being a knowledge-based company, having a reasonable chance of success, and being based on innovative technology. Investors can receive tax credits equal to 40% of their cash investment, or 50% if the business is in a rural county. The total amount of tax credits allowed per calendar year increases annually by 20% if fully utilized.
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