"Colorado legislator’s recently passed HB 09-1105...creating the Colorado Innovation Investment Tax Credit (CIITC). CIITC provides an income tax credit for investing entities that make investments during calendar year 2010 in small, innovative Colorado companies that are involved in research and development or manufacturing of new technologies, processes, and/or products.
The tax credit is equal to 15% of the investment up to a maximum tax credit of $20,000 per taxpayer id. The maximum tax credit amount for the entire program for the 2010 tax year is $750,000.
The Colorado Office of Economic Development and International Trade (OEDIT) is responsible for implementing and managing this new program. OEDIT has prepared the attached Fact Sheet containing additional information about the program and guidance regarding the application and review process...
Requests for tax credits will be processed on a first come, first serve basis. As such, it is important to get the word out to potential investors and small businesses about this opportunity, especially since there is an annual limit of $750,000...
In the very near future, we will publish the CIITC Fact Sheet, Application, FAQ’s, and other relevant information on OEDIT’s web site. At this time, we do not yet have the specific web address, however once established, it will be accessible through the following link: http://www.colorado.gov/cs/Satellite/OEDIT/OEDIT/1165009699726"
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