An Upper Peninsula venture capital firm has just registered as a qualified investment group with the state of Michigan.
The big chair club, l–l–c, has registered itself with the Michigan strategic fund.
That means it can now help certain investors obtain state of Michigan tax credits when they invest.
The small business investment tax credit program offers investors a 25 percent tax credit over a 2–year period when they make qualified investments in qualified businesses.
To qualify foe the tax credit, the investment has to be made alongside or through an investment group registered with the strategic fund.
David Saint–Onge, one of the principal people behind the big chair club, is also president of black ink assets and owner of Marquette’s E–loft, a small business incubator.