Verification Process

Angel investors, angel investor networks and Venture Capital Funds that invest in Qualified New Business Ventures must follow the following steps to receive tax credits on their eligible investments:

1. Investors must complete and submit the Tax Credit Investor Request Form, signed by the treasurer of the Qualified New Business Venture, along with a copy of the investor agreement and proof of the investment (i.e. a copy of the check) for each investment. 

2. Investors must attach the completed Accredited (Sophisticated) Investor Status Form for each Qualified New Business Venture.  (Angel networks must complete and submit forms for each of their investors.)  While the Accredited (Sophisticated) Investor Status Form may be submitted at the same time as the Tax Credit Investor Request Form, prior submission of the Accredited (Sophisticated) Investor Status Form may expedite processing of the Tax Credit Investor Request Form.  The credit "lock-in" date for an angel investment is the date Commerce receives the Tax Credit Investor Request Form with all the acceptable attachments. 

   
   

   Tax Credit Forms

   The Department of Commerce is developing online tax credit verification forms.  These forms should be available on this website in the near future.  In the meantime, forms may be obtained by contacting Chris Schiffner .

3. If all required materials are in order, Commerce will issue a verification form indicating the amount of the tax credit and the tax years in which the credit may be claimed.  (In the case of angel networks, the tax credits will pass through to the investors proportionately.) 

4. The verification form must be submitted with the investor's Wisconsin income tax forms for each of the two indicated years. 

For more information, contact:

Chris Schiffner
608/267-2425

The Department of Commerce's certification of Qualified New Business Ventures does not constitute endorsement by the Department of the management of the business.  The Department of Commerce is not liable for damages or losses to an investor.