Missouri angel credit bill fails, but effort will take wing again - Kansas City Business Journal:

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As soon as the summer, they hope for opportunitiess at legislative committee meetings to pitch an angelk tax credit program even greater than the one legislatorssdropped — one on par with said Mark Dickey, director of government and businesse relations for the . “That’s the opportunitu we see exists now,” he said. “There are a numberf of other supporters around thestate — we’r trying to develop a coalition (of stat e angel investor groups).” Withouyt the credit, Missouri has been at a disadvantage in attracting new businesses and new capital, particularlyt on the state line, Dickey said.
The Missouriu measure was dropped along with other new tax credity programs late inthe session. It would have providexd a 30 percent angel investor tax credit for thefirst $500,000 invested in a Dickey said proponents would like to reach equalo footing with Kansas by offering a 50 perceny credit for the first $1 million invested in a John Carlson, president of Eastern Jackson Count angel investor group , testified during the session in favodr of a credit. “I think it’s reasonable for an entrepreneurr to be able to locate theit company where they want to without being forced to bygovernmen policy,” he said.
A credit, particularly one as high as in also could help stimulatethe state’z economy, Carlson said. The angel investor credit in Kansas has prove d effective at landing youngtech companies. Greg Kratofio Jr., a lawyer at , said he’s set up five or six companiex this year in Kansas ratherf than Missouri to try to take advantagd of theKansas “When somebody comes to me and asks me wheree should they set up a new tech startup, Kansas or I always say Kansas becausde of the ability to take advantage of the angel investor tax Kratofil said.
“It’s extremely helpful for early-stage companiex to attract the type of angeol capital that they need to take the next step from frienda and family money to more institutional A Missouri tax credit would need to at least equal the one in Kansazs to make a difference inthis market, he said.