A tax incentive program that helps young companies in Louisiana is to set to expire July 1. The Angel Investor Tax Credit program provides a 35 percent tax credit on eligible entrepreneurial businesses. In this New Orleans City Business article, Rob Wollfarth, noted that although this program is much smaller than others such as the film tax incentive or digital tax incentive programs, its loss would mean eliminating a financing source for startups.
"They depend on nontraditional sources of financing. If the credit goes away we could potentially disincentivize angel investors," Mr. Wollfarth said. "A $1 million or $2 million investment is a lot of money to help a small business get off the ground."
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