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New Legislation › Small Business › Tax Legislation

Greenbaum, Rowe, Smith & Davis LLP

One Big Beautiful Bill Act: An Overview of Impacts on the Tax Code for Business Owners

Greenbaum, Rowe, Smith & Davis LLP on

The One Big Beautiful Bill Act (OBBBA) was signed into law on July 4, 2025. The legislation permanently extends some of the changes to the tax code first introduced in 2018 while adding additional provisions designed to...more

Hughes Hubbard & Reed LLP

Expansion of Qualified Small Business Stock Tax Benefits

Hughes Hubbard & Reed LLP on

On July 4, President Donald Trump signed a budget reconciliation bill entitled the “One Big, Beautiful Bill Act” (the Act). The Act extends the tax cuts that were enacted as part of the Tax Cuts and Jobs Act of 2017, adds a...more

Cooley LLP

The ‘One Big Beautiful Bill Act’ Permits Immediate Deduction of Domestic R&E Expenditures, in Some Cases Retroactively

Cooley LLP on

On July 4, the “One Big Beautiful Bill Act” (OBBBA) was signed into law, which includes provisions restoring immediate deduction of domestic research and experimentation (R&E) expenditures in tax years beginning after...more

Morrison & Foerster LLP

One Big Beautiful Bill Expands Qualified Small Business Stock Exemptions

Morrison & Foerster LLP on

President Trump signed into law the One Big Beautiful Bill Act (the “Act”) on July 4, 2025 (the “Signing Date”). Among the Act’s significant tax extensions and changes to tax law are several taxpayer-favorable revisions to...more

Rivkin Radler LLP

Closely Held Businesses and Their Owners Ask: What’s Big and Beautiful in the Recent Tax Law?

Rivkin Radler LLP on

The “One Big Beautiful Bill Act” (the “Act”) was signed into law last week, on July 4. As promised by the White House, the Act extends – i.e., purports to make “permanent” – many of the otherwise expiring provisions that were...more

McDermott Will & Schulte

One Big Beautiful Bill Act brings major changes to Section 1202 capital gains exclusion

McDermott Will & Schulte on

The recently passed One Big Beautiful Bill Act (OBBBA) makes significant and immediate changes to the tax rules surrounding qualified small business stock (QSBS) under Section 1202 of the Internal Revenue Code. These rules...more

Baker Botts L.L.P.

The "One Big Beautiful Bill" Key Tax Takeaways

Baker Botts L.L.P. on

On July 4, 2025, the legislation commonly known as “The One Big Beautiful Bill Act” (the “BBBA”) was enacted. The BBBA makes permanent, extends and, in certain cases, modifies, a number of provisions from the 2017 Tax Cuts...more

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