InvestOhio: Win-Win for Entrepreneurs and Investors

     Ohio has launched a $100 million tax program that benefits both entrepreneurs and investors. InvestOhio is a program seeking to spur investments in Ohio's 900,000 small businesses. The program offers a 10% income tax credit to investors who infuse new equity (cash) into companies having less than $50 million in assets and/or less than $10 million in annual sales.

     To take advantage of the income tax credit, investors are required to invest cash into a small business and then must retain ownership for a two- year holding period before the tax credit can be claimed. Small businesses benefit by the infusion of cash and are required to reinvest the cash within six months of its receipt.  Small business owners must also retain the purchased property for the entire two-year holding period.

     InvestOhio has a two-part application process. Part One is the registration piece, which kicked off November 14, 2011. Part Two is the actual application process and begins the first week in December. For more information on this $100 million program to see if it's right for you, CLICK HERE, or call (800) 848-1300.