To receive the Tennessee Angel Investor Tax Credit, two applications must be submitted to and approved by Launch Tennessee: (1) the company in which the investment is made must submit a Company Qualification Application on the form provided on Launch Tennessee’s website; and (2) the investor must submit a Tax Credit Application on the form provided on Launch Tennessee’s website. Upon Launch Tennessee’s approval of BOTH applications, Launch Tennessee submits qualification information to the Tennessee Department of Revenue. The State will issue the angel investor a tax credit certificate that he or she may attach to his or her Hall income tax return for the tax year corresponding to the date of such certificate of qualification.
Reference: Tenn. Code Ann. § 67-2-125