Anyone who is an Entrepreneur in the great state of Texas will be happy to know that there are new funding sources available that they could qualify for. Getting growth capital and tax credits are always a great idea for any business. The problem is that most people don’t even know that such funding is available.
When it comes to programs that can help even the most successful business, you have many options. Every business needs funding to keep their expansion going. That funding can come in many forms including a reduction of their taxes. Many people do not realize how much money businesses pay in annual taxes. The reality of it is, many business owners pay so much in taxes that if their business suffers a loss in a year or two, their business might never recover. It is for this reason that every business needs to keep on top of funding programs and tax breaks.
One of the most successful programs available in Texas is called CAPCO. This is also known as the Texas Certified Capital Company Program. You or someone you know might be able to participate in this program. The best idea is to check the program requirements and see if you are eligible to participate.
Who Is Eligible To Invest In A CAPCO In Texas?
You can invest in the CAPCO programs in the state of Texas of you are an insurer who is being required to pay the premium tax on policies of insurance that are issued in Texas. As an insurer you can use these tax credits to reduce tax obligations in the future. In most cases it is a dollar for dollar reduction of taxes on policy premiums. Keep in mind that the state of Texas collects around one billion dollars in each year’s collection of premium taxes.
As with any and all programs, there are rules and regulations that must be followed. With CAPCO you compete for funds that are available from a pooling of these funds. The insurance company evaluates each CAPCO offering based on the experience of the management team, expected return dates and risks of a company being de-certified as the CAPCO entity. All of these things factor in to the choices but, are well worth the risks. If you or someone you know could benefit from the CAPCO program, you owe it to your company to check into this program.
