A drug development company in the Madison area that raised $8 million in financing from angel and venture investors, some of it from outside Wisconsin, received an unhappy surprise from state government when it learned it would be taxed on the capital raised.
That’s not a tax on earned revenue from product sales — the young company is still pursuing federal regulatory approval for its drugs, which have yet to hit the market — but a tax on the capital raised from investors itself.
Image: http://host.madison.com - Tom Still
To read the original article: Tom Still: “In small, unseen ways, Wisconsin still makes it hard on emerging companies” : Wsj
