To wrap up this series on the SC angel investor tax credit, one of its particularly smart features is that it is transferable. This means if you receive a credit but don’t think you will use it (because you have no South Carolina income) you can sell the credit (to someone that does).
You can learn more on the nuances of buying and selling the credit on our blog – back here and here in particular.
Transfers are straightforward, the paperwork not burdensome, and the process is quick. The hardest part is finding a buyer! Credit is due to the legislature for including this feature and the Department of Revenue for making it easy.
If you are interested in buying or selling a credit, please contact us.
To buy: our members make lots of eligible investments and so have credits, and as about half our members are in North Carolina we have many that expect to be unable to use their credit.
To sell: the other half of our members are SC taxpayers, who would be happy to buy your credits if you can’t use them.