Tax credit program helps new businesses grow in Kansas

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KANSAS – The Kansas State Department of Commerce is trying to make it easier on new businesses to grow.

The Kansas Angel Investor Tax Credit Program helps dozen of businesses each year get thousands of investment dollars. It lets people invest in businesses and get 50 percent of their money back. This year, Commerce Secretary David Toland has reduced the fee for businesses to apply from $750 to $250.

“Making sure that we’ve got an environment where there aren’t barriers in their way and we felt like this fee was a barrier and so this was an easy thing we could do immediately to eliminate a barrier and help more small businesses get on their feet.”

Sec. David Toland, Dept. of Commerce

Businesses that qualify for the program have to be involved in innovative technology or services.

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