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.
State:
Minnesota
Reporting Jurisdiction:
Minnesota
Jurisdiction type
:
State
:
Fiscal year ending In:
2019
Program name:
Angel Tax Credit Program
Program purpose:
Capital investment
:
Statutory authority:
Minnesota Statutes 116J.8737
:
Abating jurisdiction(s):
State of Minnesota
:
Applicable taxes:
Income Taxes
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:
$6,470,000
:
Reimbursement / offset:
$0
:
Net revenue loss:
$6,470,000
:
Type of loss:
Active
:
Additional notes on dislosure:
(none)
