AITC-5 - Angel Investor Tax Credit is Nonrefundable but can be Carried Forward to Future Tax Years

The Tennessee Angel Investor Tax Credits are non-refundable (meaning if the tax credit is larger than your Hall tax liability, the credit cannot be paid to you), but they can be carried forward for up to five years after the year in which the investment generating the credit was made.

Reference: Tenn. Code Ann. § 67-2-125