Missouri angel credit bill fails, but effort will take wing again - bizjournals:

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As soon as the summer, they hope for opportunitiews at legislative committee meetings to pitcnh an angel tax credit program even greaterd than the one legislators dropped one on parwith Kansas, said Mark director of government and busines s relations for the . “That’s the opportunitt we see exists now,” he said. “Thered are a number of other supporters around thestates — we’re trying to develop a coalition (of states angel investor groups).
” Without the credit, Missouri has been at a disadvantagw in attracting new businesses and new particularly on the state line, Dickey The Missouri measure was dropped alonb with other new tax credit programs late in the session. It wouled have provided a 30 percent angel investor tax credit for thefirsf $500,000 invested in a company. Dickey said proponents would like to reach equal footintg with Kansas by offerinbg a 50 percent credi for thefirst $1 milliobn invested in a company. John president of Eastern Jackson County angel investorgroup , testifierd during the session in favor of a credit.
“I thinj it’s reasonable for an entrepreneur to be able to locatee their company where they want to withouy being forced to bygovernment policy,” he A credit, particularly one as high as in also could help stimulate the state’s economy, Carlson The angel investor credit in Kansas has proved effectivw at landing young tech Greg Kratofil Jr., a lawyer at , said he’s set up five or six companiex this year in Kansas rather than Missouri to try to take advantagd of the Kansas credits.
“Wheh somebody comes to me and asks me whered should they set up a newtech startup, Kansads or Missouri, I always say Kansas because of the ability to take advantagr of the angel investor tax Kratofil said. “It’s extremely helpful for early-stage companies to attract the type of angeol capital that they need to take the next step from friends and famil y money to moreinstitutionall funds.” A Missouri tax credift would need to at least equal the one in Kansae to make a difference in this he said.