Instructions for Qualified Small Business Annual Report - Angel Tax Credit Program - Minnesota

This document was released by Minnesota Employment and Economic Development Department and contains the most recent official instructions for Qualified Small Business Annual Report - Angel Tax Credit Program .

FAQ

Q: What is the Qualified Small Business Annual Report for the Angel Tax Credit Program in Minnesota?A: The Qualified Small Business Annual Report is a report that must be submitted by eligible businesses participating in the Angel Tax Credit Program in Minnesota.

Q: Who needs to submit the Qualified Small Business Annual Report?A: Eligible businesses participating in the Angel Tax Credit Program in Minnesota need to submit the Qualified Small Business Annual Report.

Q: What is the purpose of the Qualified Small Business Annual Report?A: The purpose of the report is to provide information on the progress of the business and its compliance with the Angel Tax Credit Program requirements.

Q: What information is required in the Qualified Small Business Annual Report?A: The report requires information such as the company's financial statements, details of the investment and job creation, and any changes in the ownership or control of the business.

Q: When is the deadline to submit the Qualified Small Business Annual Report?A: The deadline to submit the report is usually within 120 days after the end of the fiscal year of the business.

Q: What happens if a business fails to submit the Qualified Small Business Annual Report?A: Failure to submit the report may result in the revocation of the Angel Tax Credit and the business may be required to repay any credits previously claimed.

Q: Who can I contact for assistance with the Qualified Small Business Annual Report?A: For assistance with the report, you can contact the Minnesota Department of Employment and Economic Development (DEED) or refer to the instructions provided with the form.