There is a credit available for those investing in the form of equity and subordinated debt that you may not know about.  The Virginia Qualified Equity and Subordinated Debt Investment (Angel) Credit allows a credit equal to 50% of the cash investment in a qualified business in the form of equity or subordinated debt.

Interested businesses and investors need to know that there are specific limitations and deadlines that need to be met. This includes a two-step process with starts with the business submitting Form QBA at least 90 days prior to the issuance of equity or subordinated debt, and then the issuing a copy of the Virginia Department of Taxation certification to each investor/taxpayer, who must then submit their own application on Form EDC before April 1 of the following calendar year.

However, if you meet the credit and qualified investment limitations, this process could prove very beneficial to those who are able to obtain the tax credit.

Tags: angel credit, corporate tax services charlottesville, corporate tax services richmond, virginia angel credit

This entry was posted on Wednesday, June 10th, 2009 at 8:28 am and is filed under Corporate Taxes. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.