The High Growth Small Business Job Creation Act, also known as the Angel Investor Act, provides tax credits to angel investors who make qualified investments in qualified businesses. The intent behind passage of the Act was to encourage investment in early-stage, high-growth job-creating businesses; increase the number of high-quality, high-paying jobs in South Carolina; and ultimately expand the state’s economy by enlarging the base of wealth-creating businesses.

Registration as a Qualified Business

Although angel investors must apply for tax credits through the South Carolina Department of Revenue, qualified businesses must apply for registration with the Secretary of State.  Please refer to S.C. Code of Laws §11-44-30 to determine whether an entity meets the requirements for registration. Approval of registration constitutes certification by the Secretary for twelve months after being issued. A qualified business may renew its registration as long as it continues to meet the statutory requirements for qualified business.  

First-time registrants should file the Initial Application for Registration as a Qualified Business (PDF). Businesses that were previously approved to register as a qualified business and that are seeking to renew their registration should file the Renewal Application for Registration as a Qualified Business (PDF). These applications are also available for online filing using our Business Entities Online system.

Application for Tax Credit

To apply for a tax credit under the High Growth Small Business Job Creation Act, angel investors must complete the Angel Investor Credit Application provided by the South Carolina Department of Revenue.

Reporting

You may review a listing of qualified businesses registered with the Secretary of State (PDF) or use the Secretary of State’s online corporation search engine to look up a business by name to see if it has registered as a qualified business.

Pursuant to S.C. Code of Laws §11-44-60 of the High Growth Small Business Job Creation Act, the Secretary of State is required to publish an aggregated statewide report of qualified businesses (PDF) on an annual basis.

Other questions? Review the frequently asked questions about Qualified Businesses.