On September 27, 2010, President Obama signed legislation containing several tax incentives intended to promote capital and operational investment by large and small businesses alike. The legislation is part of a larger bill known as the “Small Business Jobs Act of 2010" ("SBJA"). Some of the key provisions allow for extension of bonus depreciation, the doubling of Code Sec. 179 expensing, and exclusion of 100 percent of the gain for qualified small business stock. The legislation also provides a more generous exclusion of the built-in gain for a sale of assets of an S corp that was previously a C corp.
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