The skeptic from the first post in this series was arguably given useful supporting evidence in August when several prestigious professors published an NBER working paper called Investor Tax Credits And Entrepreneurship: Evidence from US States. (Downloadable from...
In August 2020, the SC Department of Revenue updated how individuals applied for the South Carolina angel investor tax credit. All the rules about qualified businesses, qualified investors, and the application deadlines are the same. Even the form TC-56A remains the...
In our last post, we mentioned a survey on angel investors in South Carolina. This was a survey we conducted through our website during 2018-2020.It wasn’t an exhaustive scientific study with robust statistically-validated outcomes! It was, though, we think, useful...
As you know, at VentureSouth we are fans of the South Carolina angel investor tax credit. Over the course of 2020, we have learned more about the credit, its renewal, its use, and its impact, and so we wanted to share some of these learnings through a few additional...
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...
UPDATE: Fortunately, we are not in the business of making political predictions: the SC angel tax credit was extended by the SC legislature on March 12 (in this legislation). The extension is to the end of 2025 and so, assuming the governor signs the this into law,...
There are a couple of reasons to think that last post’s conclusion is a little too optimistic.First, in this post, we dive briefly into the qualified business list – you can download the January 2020 pdf from this link.There are plenty of software development,...
Following the last post, is this milestone of angel investor tax credit awards something to celebrate? Well, from the perspective of an investor this year, maybe not: my example tax credit of $1,618.26 ($3,500 * 0.46…) is quite a bit less than the $3,500 I was...
First, some background. The angel investor tax credit in South Carolina is a state income tax credit of up to 35% of the amount invested in an eligible SC-based company. So, if you invested $10,000 in a qualified business, you can take up to $3,500 off your future SC...
Amidst all the current challenges, and although the deadlines have changed, one thing is certain: a lot of people are working on their taxes. Among the work involved in preparing tax returns for VentureSouth’s investment entities is passing South Carolina angel...