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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

Effected JurisdictionMinnesota
Jurisdiction type: State
Fiscal year ending In2020
Program nameAngel Tax Credit Program
Program purpose: Capital investment
Statutory authority: Minnesota Statutes 116J.8737
Abating jurisdiction(s): State of Minnesota
Applicable taxesIncome Tax
Method of abatement: Tax Credit
Provisions for recapture: If it is determined that a qualified business did not maintain at least 51 percent of its employees and payroll in Minnesota during the first five years following its most recent qualified investment, the business must repay the income Tax Credit provided to its investors based on a fixed percentage scale.
Gross revenue loss: $2,907,000
Reimbursement / offset: $0
Net revenue loss: $2,907,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://mn.gov/mmb/accounting/reports/annual-comprehensive-financial-rep...