Cardious Qualifies for 25% Investment Rebate

I am excited to announce that Cardious has recently qualified to participate in Minnesota’s Angel Tax Credit program. This program provides a 25% tax credit or a direct grant in lieu of credit to investors or investment funds that put money into a Minnesota based startup or emerging company (like Cardious) focused on high technology or new proprietary technology.

  • If you live in Minnesota the program provides a 25-percent individual income tax credit.  If you do not generate enough tax liability the difference will be provided as a cash payment.
  • If you are not a Minnesota resident, or even a resident of the United States, the entire credit will be given as a cash rebate equivalent to 25% of your investment.
  • The program allows a maximum credit or grant of $125,000 per year per individual ($500,000 investment) or $250,000 for those married and filing jointly ($1,000,000 investment).
  • The program has allocated $11 million dollars in tax credits for the rest of this year.  So far, about 30 companies have qualified to participate.  It is a first come/ first serve process until the funds are distributed.

Although any prudent investor would not invest in a company only because the investment risk is hedged by government participation, I think the State of Minnesota should be commended in their effort to stimulate the investment process.

Currently, Cardious is looking for qualified investors to invest $1.4MM  to support the next phase of product development resulting in human implantation.  Please contact me if you are interested in learning more.

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