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Effective August 9, 2017, and pursuant to HB2191 (53rd legislature, 1st regular session) amending A.R.S. § 41-1518, the ACA may certify $2.5 million of tax credits annually (plus any unused credits from prior years) from July 1, 2017 through June 30, 2021 for qualified investments made in qualified small businesses. Applications for the Angel Investment Tax Credit must be filed within 90 days after the qualifying investment.
An overview of the program is provided below, but please feel free to also review the Summary and Guidelines for additional information. The Program Manager is also available should you wish to be added you to the list of individuals interested in staying abreast of any changes to the program, and to answer any questions you may have. Please be sure to indicate the Angel Investment Program as the subject of your inquiry.
The principal objective of the Angel Investment program is to expand early stage investments in targeted Arizona small businesses. The program accomplishes this goal by eliminating Arizona capital gains tax liabilities associated with the disposition of investments in small businesses certified by the ACA. To view the list of businesses that have been certified under this program please click here.
BASIC ELIGIBILITY REQUIREMENTS
A small business may be a “qualified small business” if it:
- Is a corporation, limited liability company, partnership or other business entity (Sole proprietors are ineligible)
- Maintains a portion of its operations in Arizona
- Has at least two principal non-administrative full-time equivalent employees who are Arizona residents
- Is not principally engaged in activities precluded by ACA
- Does not engage in activities that involve human cloning or embryonic stem cell research
- Does not have assets exceeding $10 million, exclusive of intellectual property and qualified investments
- Satisfies all other requirements
Apply electronically for "qualified small business" status, or as an Investor.
All tax credit funds for the current Fiscal Year have been allocated. Additional funding will be available on 7/1/2018. Please email the Program Manager to receive updates on the Investor Application.
If you would like to be kept abreast of developments with the Angel Investment program, please click here to send an e-mail requesting such notification. Please be sure to identify Angel Investment as the program for which you would like notification.