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Taxpayers assuming some of the risk for Louisiana's angel investors: smart move or giveaway?
Source:
theadvocate.com
- Feb 13, 2017
For investors, the adage goes, no risk means no return.
But for years, wealthy investors in Louisiana start-up companies have been able to offload more than a third of their risk onto state taxpayers through a program that offers the investors tax breaks worth up to 35 cents on the dollar.
During a five-year period beginning in 2011, Louisiana's Angel Investor Tax Credit program issued about $21 million in credits to accredited investors who poured about $65.2 million into scores of early-stage businesses, according to a review by The Advocate of hundreds of documents related to the program, including applications, business plans and financial statements.
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Category: General Business
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