Expanded Tax Exclusion for Qualified Small Business Stock

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A provision in the recently enacted Small Business Jobs Act of 2010 (H.R. 5297) permits the exclusion of 100 percent of a non-corporate taxpayer’s gain from the sale of “qualified small business stock” held by the taxpayer for more than 5 years, but only if the taxpayer acquires the stock between September 28, 2010, and December 31, 2010. Qualified small business stock acquired outside this time-frame is subject to a more limited exclusion.

Eric B. Woldenberg, Michael P. Dunworth and Martin J. Jones of Pryor Cashman’s Tax Group have written an informative Legal Update, Expanded Tax Exclusion for Qualified Small Business Stock, that discusses the definition of “qualified small business stock,” and describes how taxpayers can obtain this tax exclusion.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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