Title

“Focus Technology” piece on Maine’s Seed Capital Tax Credit

Authors

James McCarthy

Source

Mainebiz

Date

3-4-2013

Pages

20-22

Abstract

“Focus Technology” piece on Maine’s Seed Capital Tax Credit, which is no longer available to Maine businesses seeking venture capital, because the program has reached its $30 million cap. The program appealed to investors because the tax credit reduced the risk, while companies like The Gelato Fiasco have been able to expand thanks to the funding opportunity it afforded. The Legislature could raise the overall cap, and a proposal to do so has support on both sides of the aisle. The program has helped create jobs, which in turn brings payroll taxes to the state budget, benefits which offset the loss of tax revenue.

Subjects

Maine Seed Capital Tax Credit Program, Tax credits, Capital, Venture

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