02 Nov Three technology companies qualify for investor credits
Madison, Wis. – The state Department of Commerce has qualified three small technology businesses for investor tax credits under Act 255, the state’s angel investor and venture fund tax credit programs.
The programs offer Wisconsin income tax credits to angel investors and investors in seed-stage venture capital funds. The people that invest in the businesses are able to claim tax credits under the legislation signed into law in April of 2004.
Newly qualified companies include:
• Windlift, LLC, Madison, which was formed in April 2006 to manufacture a wind-powered pump on which a patent is pending and a working prototype has been developed.
• Centrose, LLC, Madison , which uses a sugar-enhanced approach to more cost-effective drug discovery. The company, formed in 2006, is developing anti-cancer therapeutics.
• SymbiontWeb, Inc., Madison, a software company that is developing products to promote faster data flows and more stable Internet connections.
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• Sen. Ted Kanavas: A heavenly tax cut: Act 255 stimulates economic growth
• 9 tips for making 90 seconds count in an investment pitch