In case anyone else was confused as to what these Acts actually did, Here is the summary from https://lnkd.in/dUGacDQe
Assembly Bill 932, now 2023 Wisconsin Act 144:
* Modifies one of the two criteria under which a business can qualify under the?Qualified?New?Business?Venture?Program to simplify it with a single definition to include businesses that are engaged in, or committed to engage in, innovation if the innovation involves the development of a differentiating technology, product, service,?or production process.
Assembly Bill 933, now 2023 Wisconsin Act 145:
* Extends the current law treatment for the?early-stage?seed investment credit to the angel investment credit, allowing those claimants to sell or transfer the angel investment credit; and
* Clarifies that credits may only be sold or transferred once in a 12-month period, and?WEDC may charge a fee of up to?five?percent of the transferred credit amount, as under current law for transfers of the early-stage seed investment credit.
2023 Wisconsin Acts 144 & 145 mark a significant win for both Wisconsin’s #startups and our state.?These changes make it easier for startups to raise capital and take advantage of effective state programs. WSC was proud to take the lead on getting AB 932 (Act 144) & AB 933 (Act 145) across the finish line this session.
Thank you Governor Tony Evers for supporting Wisconsin’s Startup Ecosystem and special thanks to our membership whose support makes all these important changes possible!
Please reach out to?[email protected]?for more information regarding Wisconsin Economic Development Corporation QNBV Program.