Angel Tax Credit Act

Angel Tax Credit Act

This bill allows a new business-related tax credit for 25% of equity investments
of $25,000 or more in a domestic corporation or partnership that (1) has its
headquarters in the United States, (2) has gross revenue for the taxable year of
less than $1 million, (3) employs fewer than 25 full-time employees, (4) has
been in existence for less than 7 years as of the date of the investment, (5)
has more than 50% of its employees performing substantially all of their
services in the United States, and (6) is engaged in a high technology trade or
business. The bill limits the allowable amount of such credit to $250,000 in any
taxable year and imposes an overall limitation on such credit of $500 million
for each of calendar years 2025-2029.