If you are a Virginia startup, or an investor in one, here is something for your fourth quarter to-do list: File to become qualified as a small business whose investors can take advantage of the “Qualified Equity and Subordinated Debt Investments Tax Credit.” Not the greatest branding, but you can think of it as your startup investment tax credit.
Companies need to file form QBA before the end of the year to be pre-qualified, http://www.tax.virginia.gov/taxforms/Business/Credits/QBA.pdf, and you have to file each year to qualify.
Assuming you meet the program definitions, investors will be able to file their Form EDC by April 1, for investments made this year. http://www.tax.virginia.gov/taxforms/Business/Credits/EDC.pdf
More information is here: http://www.tax.virginia.gov/site.cfm?alias=TaxCredit#Qualified_Equity_And_Subordinated_Debt_Investments_Credit