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Milwaukee firm among first to use Act 255 tax credits in investor pitch

Milwaukee Neurognostics, a home-grown Milwaukee medical device company, finished a funding round on Friday that was one of the first to take advantage of Wisconsin's new tax credits for investors, which can give back up to 25 percent of an investment.

Neurognostics oversubscribed on its $1 million angel finance round by about 15 percent, ......

Full article >>> we had already put together into the form the state needed," Tucker said. The requirements included a business plan and information that showed Neurognostics was doing work covered by Act 255, and becoming qualified could have been harder for someone who hadn't put together a detailed business-plan package already.

The lure: 25 percent money back

For angels, Act 255 specifies tax ......

Full article >>> v/act255/BD-Act255-QNBV.html">Act 255's requirements, angel investors can obtain tax credits with little additional work, Anderson said.

The act qualifies primarily research and development companies that are creating new products those in real estate, banking, retail, or construction, to take a few examples, are not included.

A business can receive up to $4 million of inves......

Full article >>> credits and I don't?'"

But on the angel side, the tax credits appear poised to draw in more interest in Wisconsin early-stage companies. The angel tax credits may even benefit VCs, Broderick said, by providing more support for early-stage companies that could mature into potential candidates for larger venture investments later on.

"There's a lot of money available for this sort......

Full article >>>
'"/> By Jason Stitt 05/09/05

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