DENVER - Time is running out for investors to apply for a state tax credit up to $20,000 for putting money into local companies that make new technology products, the state Office of Economic Development and International Trade said Thursday.
A state law passed in 2009 created the financial incentive, which asked for investors to put money into "small, innovative Colorado companies that are involved in research and development or manufacturing of new technologies, processes, and/or products."
The Colorado Innovation Investment Tax Credit is equal to 15 percent of the total investment - up to $20,000 per business. About $300,000 remains of the $750,000 available for 2010.
Investors must fill out an application package found at the Office of Economic Development and International trade website, http://www.colorado.gov/cs/Satellite/OEDIT/OEDIT/1251568656373.
Requests for tax credits are processed on a first-come basis until the money runs out, the office said.