Maine Seed Capital Tax Credit Program
The Maine Seed Capital Tax Credit encourages equity investments in eligible Maine businesses by providing tax credits to outside investors.
About this program
The Maine Seed Capital Tax Credit Program is administered by FAME to encourage equity investments in eligible Maine businesses, either directly or through private venture capital funds. FAME may authorize state income tax credits equal to 40% of the cash equity provided to eligible Maine businesses, and investments may be used for fixed assets, research, or working capital. Eligible businesses must be located in Maine, have annual gross sales under $5 million, have at least one principal owner working full time in the business, and fit an eligible business category such as manufacturing, out-of-state sales, advanced technology, value-added natural resources, or visual media production.
Eligibility
Eligible Maine businesses seeking outside passive equity investment and investors or venture capital funds applying for Maine tax credit authorization through FAME.
Requirements
- Business must be located in Maine.
- Business must have annual gross sales of less than $5 million.
- At least one principal owner must work in the business as a professional full-time activity.