House Bill 318, passed on March 25 by the Georgia General Assembly during the 2013 Legislative Session, renewed the Georgia Angel Investor Tax Credit legislation that was initially passed in 2010. House Bill 318, if signed by the Governor, will renew the Georgia Angel Investor Tax Credit for two years, 2014 through 2015. Governor Deal has until May 7, 2013 to sign any legislation passed during the 2013 General Assembly. The sponsor of the bill, Rep. Ron Stephens (Savannah) has asked for a “sign date” for the bill.
Here is a link to the 2010 legislation signed on June 4, 2010 that gives this credit from 2011-through 2013 (Section 2):
Here is a link to the 2013 bill that was passed March 25, 2013 (Section 6) and would extend the credit in years 2014 & 2015:
The Georgia Angel Investor Tax Credit took effect in 2011 and provides an individual state tax credit of up $50,000 on an annual basis for individual angel investors who invest in early stage, “qualified” Georgia companies. The Tax Credit is available to be used by investors and “qualified” companies in the years 2011, 2012 and 2013. In the first 18 months of 2011 & 2012, 96 companies applied for the tax credit. Based on information collected in 1st Q, 2013, it looks as if applications are up 30% YOY from 2011 to 2012.
Let’s encourage Governor Deal to support early stage investing in Georgia and urge him to sign House Bill 318!
Additional Information on the Angel Investor Tax Credit:
Companies that meet the following criteria are eligible to become a “qualified” company:
- Technology or manufacturing
- employs 20 or fewer
- less than 3 years old
- no more that $500,000 in annual revenue
- has not raised more that $1,000,000 in aggregate
“Qualified” Company Application:
Here is a link to the GADOR site for a “Qualified” company to apply: (IE browser seems to work fine, Chrome not so much)
Application for Angel Investors that invested in a “Qualified” company in 2011:
The Invest Georgia program is a $100M state-based venture capital fund. The Invest Georgia fund would help to fund Georgia-based high growth companies in their early to growth stages of life. Governor Deal has until May 7, 2013 to sign any legislation passed during the 2013 General Assembly. The sponsor of the bill, Rep. Ron Stephens (Savannah) has asked for a “sign date” for the bill.
Link to legislation: http://www.legis.ga.gov/legislation/en-US/Display/20132014/HB/318