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Early-stage startup financings have long reflected a tension between transactional efficiency and legal precision. Instruments such as convertible notes and SAFEs were developed to reduce cost and execution time at the seed...more
Washington has long been viewed as a tax-efficient jurisdiction, historically imposing no personal income tax on individuals. In 2021, the Washington State Legislature enacted a capital gains tax law, taking effect for gains...more
As we enter what we expect will be another dynamic year for the venture capital ecosystem, one theme remains constant: the need for structural clarity in early-stage financing. Founders and investors alike are seeking tools...more
Our client spotlight in this edition features Conductive Ventures, a Palo Alto–based venture capital firm that manages $450 million in capital across three funds. Conductive Ventures invests in early-stage, capital-efficient...more
The Washington State Legislature has recently introduced Senate Bill 6229 (and complementary House Bill 2292), which would impose the State’s capital gains tax to gains realized from the sale of Qualified Small Business Stock...more
For CPG founders, understanding the complexities of business structures and tax consequences is essential to maximize growth and attract investors. The Qualified Small Business Stock (“QSBS”) exclusion provides considerable...more
In 1993, Congress passed a tax law intended to incentivize entrepreneurs to invest in early-stage companies. This tax law, often referred to as QSBS (Qualified Small Business Stock) allows stockholders to exclude from tax a...more
As a founder, deciding whether to organize your business as a corporation or a limited liability company (LLC) is a crucial first step. Corporations are often favored for their ability to attract venture capital and offer...more
When launching your startup, there’s no shortage of big decisions to make, but one of the most impactful at the early stages is choosing the right legal structure. Choosing the right form of entity lays the foundation for how...more
Employees frequently receive compensation in forms other than salary, commissions, or bonuses. Employers may instead offer equity in the company at which the employee works....more
This is the third of a four-part series focusing on estate planning for founders. In this installment, we will cover why an Intentionally Defective Grantor Trust (IDGT) may be an effective estate planning tool for founders. ...more
As 2025 comes to a close, business owners and other high-income individuals still have an opportunity to make strategic moves that can materially reduce their tax liability and improve cash flow....more
Section 1202 provides an exclusion from capital gain when a stockholder sells qualified small business stock (QSBS) if all of Section 1202’s eligibility requirements have been satisfied. The One Big Beautiful Bill Act (OBBBA)...more
As 2025 draws to a close, there are several areas in which high-net-worth taxpayers should be focusing their attention to maximize tax savings for the year and plan for changes to tax law in the year ahead. Use Qualified...more
This year's planning season arrives amid sweeping tax and regulatory changes that affect income, wealth transfer, business, trust administration and reporting. The enactment of the One Big Beautiful Bill Act (OBBBA) reshaped...more
For recipients of restricted shares in a startup (i.e., private company), equity is often the most valuable part of their compensation packages. However, how and when that equity is taxed will make a significant difference in...more
The One Big Beautiful Bill Act (OBBBA) brings increased predictability for business owners, founders, family offices and investors in many tax planning aspects. Individual and corporate tax rates stay put, qualified small...more
The enactment earlier this year of the One Big Beautiful Bill Act (the “Act”)generated a fair amount of excitement in the business community. If one had to identify a single provision of the Act in which the owners and...more
Selling a business is one of the most significant events in an entrepreneur’s life. Most of the transaction process will be driven by the market, a buyer’s goals, or industry dynamics outside of the seller’s control. There...more
With the fourth quarter underway, recent changes to federal tax law made by the One Big Beautiful Bill Act (OB3) remain at the forefront of business planning for operations, investments, and acquisitions. OB3 became law July...more
The enactment of the One Big Beautiful Bill Act (OBBBA) on July 4, 2025, brings clarity on key provisions of the Tax Cuts and Jobs Act of 2017 (TCJA) that were set to expire at the end of 2025. ...more
Join Williams Mullen attorneys for our 2025 Fall Tax Forum, where we will dive into key developments shaping the U.S. federal tax landscape following the enactment of the One Big Beautiful Bill Act (the “OBBBA”) this past...more
Starting on July 5, 2025, the One Big Beautiful Bill Act (OBBB) has amended Internal Revenue Code Section 1202 to provide additional benefits to owners of qualified small business stock (also known as QSBS within the meaning...more
One of the remarkable things about the US economy is the robust nature of startups and emerging companies. These new enterprises drive growth and create jobs, and in turn fuel additional economic activity, creating a...more
Our client spotlight in this edition is on Conductive Ventures, a Palo Alto–based venture capital firm that manages $450 million in capital across three funds. Conductive Ventures invests in early-stage, capital-efficient...more