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Politics

July 13, 2017StephannieGeneral, Link, NewsNo comments

Recent Changes to the MNvest Law in 2017 Minnesota Legislative Session

In order to comply with federal law, the MNvest statue was changed in the 2017 legislative session. Here are some of the highlights from the changes:

  • Easier tests to satisfy residency standards prior to offering;
  • Issuers may be incorporated in other states (such as Delaware); and
  • Added clearer definition for residency of purchase.

Please click here to view additional changes made to the MNvest law.

Legislators Eliminate Angel Tax Credit

Minnesota’s Angel Tax Credit, an incentive program to encourage high net wealth investors and venture capital firms to invest into qualified Minnesota startups, will end on December 31, 2017 as a result of shifting priorities in the Minnesota House and Senate.

As of July 11, 2017, $3.2 million in tax credits remain for targeted businesses. For more information on eligibility requirements and application process, please visit the Minnesota Department for Employment and Economic Development’s (DEED) Angel Tax Credit page.

Minneapolis/St. Paul Business Journal also wrote an article on the termination of the Angel Tax Credit. You can read it here.

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Tags: Angel Tax Credit, DEED, Legislature, MNvest, News, Politics

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About MNvest

MNvest is a Minnesota law permitting investment crowdfunding, a new way to fund Minnesota's growing businesses. Similar to reward-based crowdfunding sites (like Kickstarter), MNvest enables Minnesota businesses to legally advertise investment opportunities to all Minnesota residents.

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Copyright © 2016 MNvest | Website Powered by Brandography
DISCLAIMER: MNvest.org is a 501(c)(4) nonprofit. Our mission is to educate the public about the state of Minnesota’s MNvest program. We are not a MNvest Portal registered with the state of Minnesota. We do not host offerings of any MNvest Issuers on this website. We do not administer the MNvest program. The Minnesota Department of Commerce is the securities regulator for the state of Minnesota. All questions related to securities offerings under the MNvest program should be directed towards the Securities Division of the Minnesota Department of Commerce. Investing in young companies without an established record of performance is highly risky. You may lose all of your investment.
Please consult your financial, legal and tax advisors before making investment decisions.