WI AB566

Expands the definition of qualifying investments for Wisconsin's angel investment tax credit (25% of investment) to explicitly include convertible instruments such as convertible notes and simple agreements for future equity (SAFEs)

Adds a new statutory definition of "investment" for the early stage seed investment tax credit (25% of investment paid to fund managers) to include equity purchases, convertible instruments, and other expenditures determined by WEDC

Applies to investments in qualified new business ventures certified by the Wisconsin Economic Development Corporation (WEDC)

Takes effect for taxable years beginning on January 1, 2025