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Last Updated: 12/29/2016

SEED Capital Investment Credit

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Individual Income Tax

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The SEED Capital Investment Credit Program is meant to promote innovative businesses in Minnesota border cities near North and South Dakota. You may claim this credit if you invest in a qualifying business, which must be:

  • located in Breckenridge, Dilworth, East Grand Forks, Moorhead, or Ortonville; and
  • certified by the Minnesota Department of Employment and Economic Development (DEED).

The credit is equal to 45 percent of the amount you invested in the business, up to $112,500 a year. The credit may be carried forward for up to four years.

Claiming the Credit

To claim the credit, enter the credit amount from the credit certification you received from DEED on the appropriate line of Schedule M1C, Other Nonrefundable Credits. Include the credit certificate and Schedule M1C when you file your Minnesota return on Form M1, Individual Income Tax return.

For more information, see “SEED Capital Investment Program” on the DEED website.