Colorado Innovation Investment Tax Credit
June 1, 2011 Update
The Colorado Innovation Investment Tax Credit (CIITC) program ended December 31, 2010. The recent House Bill 11-1045 reauthorized the program with a few minor changes however the legislation did not provide a funding source. House Bill 11-1045 authorizes a program in the event that a funding source is found.
OEDIT is currently exploring potential funding sources for this program but until a funding source is identified OEDIT is not accepting any applications.
CIITC was created in 2009 by the Colorado legislature (House Bill 09-1105) to encourage, promote, and stimulate investments in new, small Colorado businesses primarily involved in research & development, or manufacturing, of new technologies, products, or processes.
CIITC is a one year pilot program that provides investors a state income tax credit of 15% (not to exceed $20,000) of the amount invested during calendar year 2010. The program's primary goal is to motivate angel investors to provide capital to early-stage companies. Successful, newly funded, companies then become growth engines for the state, and help attract additional investors and entrepreneurs.
In summary, CIITC is an economic development stimulus program, developed and implemented by the state of Colorado to invest in its people and its future by providing an incentive to invest in small innovative Colorado businesses.
For more information, see the following links (Adobe Acrobat files):
The application below contains Part A - for use by the Investing Entity and Part B- for use by the Small Business being invested in:
For further information, please contact:
Kevin Tilson, Interim Manager, CIITC
Colorado Office of Economic Development & International Trade
1625 Broadway, Suite 2700
Denver, Colorado 80202
(T) (303) 892-3840
(F) (303) 892-3848
1 (800) 659-2656 TDD
Secondary Contact:
Alice Kotrlik, Deputy Director
Colorado Office of Economic Development & International Trade
1625 Broadway, Suite 2700
Denver, Colorado 80202
(T) (303) 892-3840
(F) (303) 892-3848
1 (800) 659-2656 TDD