New Jersey Economic Development Authority:
Your Resource for Economic Opportunity

New Jersey Angel Tax Credit Program Online Application


Welcome to the EDA's online application for the NJ Angel Investor Tax Credit Program. We look forward to helping you as you support businesses in New Jersey!

GENERAL INFORMATION:

Before you get started, there are a few things you should be aware of to make the application process as simple as possible.

Please note that this application is only for the New Jersey Angel Investor Tax Credit Program. For all other applications please visit https://application.njeda.com

  • If you have any question regarding this application, please email AngelTaxCredit@njeda.com or call EDA Customer Care at (844) 965-1125.

  • In order to begin your online application, you must register for an account with a username and password. Your username and password will allow you the flexibility to complete your application at your convenience.

  • As you complete your application, you may email a draft of your application to your Venture Officer should you require feedback prior to submitting. Depending on the nature of your investment, your Venture Officer may request additional information after receipt of your application.

  • All information should be completed for the investor. The company will later complete a separate section of the application.

  • An application must be fully submitted to the NJEDA via the online application within six months of the qualified investment date – to include both the investor and the technology company portions of the application. The investor/applicant is responsible for entering the correct email for the company representative and following up to ensure the company representative has completed the company portion by the deadline. No exceptions can be made.

  • All program requirements must be met at both the date of investment and application submission. This includes requirements around the business, like employees and technology, and the investment, like closing date and structure. It is the responsibility of the investor/applicant and the technology business review all program requirements and provide sufficient evidence they have been met via the online application and documentation.

Please note that you will be required to attach the following items in the application system. Please ensure that you have all items available prior to beginning the application.

If you encounter any issues with uploading files, please email angeltaxcredit@njeda.com for alternative methods to provide required documentation to the NJEDA.

  • Provide one of the following agreements:
    Stock or Unit purchase agreement; Subscription agreement; License agreement; Rights to use technology agreement; Marketing rights agreement; Warrants or Options agreement; Membership interest agreement; Purchase, Production or Research agreement

  • Stock or Unit Certificate

  • Evidence of cash transfer
    Please attach copy of cancelled check, or account statement showing that the cash was sent to the Company

  • Investor Certification
    Complete all fields, sign, and attach to the application

  • For Revocable and Grantor Trusts, an executed trust document is needed to verify it is taxed 100% to the grantor. For Non-Grantor Trusts a tax return in the name of that trust is required

  • For Single Member LLC's only: LLC Operating Agreement detailing that the LLC is a single member LLC and who the sole member is

  • For Individual Retirement Accounts (IRA) only: Form 5498, Form 1099, and/or Financial Management Investment company monthly statement(s), and/or to support individual IRA ownership and beneficiary

For Investors - If you are a Multi-member LLC, Partnership, Non-Grantor Trust, C Corporation, or S Corporation you must also attach the following items: in addition all Technology Companies will need to follow these two steps and attain Business Registration and Tax Clearance.

  • New Jersey Business Registration
    All investor entities (both NJ and out- of-state), including Corporations, Partnerships Multi-member LLC's, and Non-Grantor Trusts must register as doing business in the State of NJ. Please click here and complete online questions or questionnaire for both Step 1 ($125) and Step 2. Please print and attach the completion confirmation page for each step. To assist in completing Part 2, please use the 10 Digit ID established in Part 1. New Jersey investors that have already registered DO NOT need to re-register.

  • Division of Taxation Tax Clearance Certificate required. Certificates shall be requested through the State of New Jersey's Premier Business Services (PBS) portal online. For detailed instructions, please click here.

    • Under the Tax & Revenue Center, select Tax Services, then select Business Incentive Tax Clearance.

    • If you have any questions, please email BusinessAssistanceTC.Taxation@treas.nj.gov.

    • If the applicant's account is in compliance with its tax obligations and no liabilities exist, the Business Incentive Tax Clearance can be printed directly through PBS.

    • Please note: It is the applicants responsibility (if applicable) to maintain a current and clear tax clearance certificate. If a current and clear certificate is not evidenced to EDA at time of application review, EDA will not proceed with finalizing the tax credit.

  • Schedule K-1 for most recent tax year (for multi-member LLC's only)
    Please also provide K-1's for all underlying member LLC's

Application and Approval Fees:

  • Application fee (non-refundable):

    • $500 for investment amounts of $50,000 or less

    • $2,500 for investment amounts over $50,000

  • Approval fee for qualified investments over $500,000

    • 5% of the amount of the tax credit or $2,500, whichever is greater. The application fee is credited toward the approval fee. Please note that we will not be able to issue the Tax Credit Certificate until the approval fee is received.

Thank you!