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IMPORTANT: As of July 1st, 2011, functions once performed by the Wisconsin Department of Commerce have been moved to other state agencies and the Wisconsin Economic Development Corporation. The former Commerce web site will continue to exist for the next several months as resources are moved to new web site locations. We will make every attempt possible to direct our users to the new locations as web resources are moved.
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:
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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.
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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.
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Tax Credit Forms
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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
.
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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.)
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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.
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