Angel Investment Fund

An individual, estate, trust or corporation is allowed an income tax credit for investing in a North Dakota-based angel fund.

The credit is equal to 45% of the investment, up to a maximum credit of $45,000 per year. An investment must be at risk in the angel fund for at least 3 years to be eligible for the credit. An unused credit in the year of investment may be carried forward up to four years.

A taxpayer claiming this credit may not claim an income tax credit passed through to the taxpayer by the angel fund resulting from the angel fund's investment in a qualified business for purposes of the seed capital or agricultural commodity processing facility investment tax credit programs.

Source: N.D.C.C. §57-38-01.26