ANGEL INVESTMENT TAX CREDIT BILL (SB 256) NEEDS SUPPORT TO PASS

In February 2011 United States Senator Mark Pryor (Democrat, Arkansas) introduced legislation that would give angel investors in qualifying small businesses a federal income tax credit equal to 25% of the amount invested. (SB 256, known as “The American Opportunity Act”, available here: http://thomas.loc.gov/cgi-bin/query/z?c112:S.256:).

The Bill would be very advantageous to the angel investment and startup business community where I believe it has broad support.

In late February, SB 256 was referred to the US Senate Committee on Finance where it may have a difficult time competing for attention with other similar pending tax incentive bills.  The investment and business community needs to create momentum for this bill to pass.

Supporters should contact the Committee at:
202-224-4515
202-228-0554 (fax)

The Honorable Max Baucus
Chairman, Committee on Finance
United States Senate
219 Dirksen Senate Office Building
Washington, D.C. 20510
Contact via email:  http://baucus.senate.gov/?p=contact

The Honorable Orrin G. Hatch
Ranking Member, Committee on Finance
United States Senate
219 Dirksen Senate Office Building
Washington, D.C. 20510
Contact via email:  http://hatch.senate.gov/public/index.cfm/email-orrin

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About Joe Wallin

Joe Wallin focuses on emerging, high growth, and startup companies. Joe frequently represents companies in angel and venture financings, mergers and acquisitions, and other significant business transactions. Joe also represents investors in U.S. businesses, and provides general counsel services for companies from startup to post-public.
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