News & Analysis as of

Small Business Tax Credits

Whiteford

Client Alert: The Employee Retention Credit and How to Handle Unprocessed Claims

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The Employee Retention Credit (ERC) was introduced as part of the March 2020 Coronavirus Aid, Relief, and Economic Security (CARES) Act to encourage businesses to maintain their workforce during the economic disruptions of...more

Mayer Brown

Brazilian Internal Revenue Service Publishes New Rules for Low-Value Debts and Debts Up to BRL 50 Million

Mayer Brown on

On July 7, 2025, the Brazilian Internal Revenue Service (IRS) published Notices No. 4/2025 and No. 5/2025, introducing new modalities of tax settlement by adhesion within the scope of administrative tax litigation, with...more

Hanson Bridgett

Timing is Everything for QSBS After the One Big Beautiful Bill Act

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The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, establishes new phased-in benefits for Qualified Small Business Stock (QSBS) held for at least three years. ...more

Cozen O'Connor

Expansion of QSBS Benefits Under the One Big Beautiful Bill

Cozen O'Connor on

On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA) into law, which had narrowly passed through the United States Congress. The OBBBA makes permanent certain tax provisions that were due to expire...more

Foley & Lardner LLP

One Big Beautiful Bill Updates to Qualified Small Business Stock Rules under Section 1202

Foley & Lardner LLP on

As part of the newly enacted One Big Beautiful Bill Act (the OBBBA),[1] Congress adopted the first substantive amendments to Section 1202[2]–which prescribes the qualified small business stock (QSBS) rules–in over a decade...more

Morgan Lewis

New Section 174A Restores Domestic R&E Deductibility, but Other Changes Bring Mixed Results

Morgan Lewis on

President Donald Trump signed into law the One Big Beautiful Bill Act on July 4, 2025. Among many other provisions, this bill permits taxpayers to deduct domestic research and experimentation (R&E) expenditures under new...more

Gould + Ratner LLP

OBBB Act Brings Significant Changes to Section 1202 QSBS Gain Exclusion

Gould + Ratner LLP on

On July 4, President Donald Trump signed the One Big Beautiful Bill Act (“OBBB”) into law. Among many changes, the OBBB included an expansion of the qualified small business stock (“QSBS”) gain exclusion under Section 1202 of...more

Offit Kurman

Business Tax Law Provisions of the OBBBA

Offit Kurman on

The business tax provisions of the One Big Beautiful Bill Act (OBBBA), as signed by the president on July 4, reflect sweeping changes aimed at incentivizing small businesses, domestic investment, and manufacturing. Outlined...more

Goodwin

One Big Beautiful Bill Act - Tax Highlights related to Research and Experimental Expenditures, Qualified Small Business Stock and...

Goodwin on

On July 4, 2025, the One Big Beautiful Bill Act (OBBB) was signed into law. The OBBB extends various expiring tax provisions from the Tax Cuts and Jobs Act (TCJA) and introduces a variety of other substantial tax law changes....more

Mintz - Tax Viewpoints

QSBS Benefits Expanded Under Senate Finance Proposal

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On June 16, 2025, the Senate Finance Committee released its own version of proposed legislation following the House’s passage of the “One Big Beautiful Bill Act” (H.R. 1). While the House bill did not introduce any changes to...more

Orrick, Herrington & Sutcliffe LLP

Senate Bill Unexpectedly Proposes Significant Expansion of QSBS Benefits

On June 16, 2025, the Senate Finance Committee introduced a bill that would significantly expand the benefits available for qualified small business stock (QSBS). The expanded QSBS benefits apply to stock acquired after the...more

Holland & Knight LLP

Independent Sponsors: Section 1202 Qualified Small Business Stock

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The tax benefits conveyed by Section 1202 of the Internal Revenue Code to owners of qualified small business stock (QSBS) have been available to small business owners in some form since Section 1202 was first enacted in 1993....more

Lippes Mathias LLP

Where's My Employee Retention Credit?

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In the years since COVID-19 shut down the country, many businesses applied for the Congressionally-authorized Employee Retention Credit (ERC), a valuable relief program created during the pandemic to support businesses who...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Alabama Eyes Portable Benefits for Freelancers and Gig Workers

Certain states have considered enacting legislation facilitating the creation of portable benefit accounts for independent contractors, including gig economy workers. These accounts attach to the individual worker rather than...more

Spilman Thomas & Battle, PLLC

The Rural Historic Tax Credit Improvement Act Will Expand Access To Smaller Projects | Spilman Thomas & Battle

Last week, U.S. Senators Shelley Moore Capito, R-West Virginia, and Mark Warner, D-Virginia, introduced S. 631, which focuses on rural historic tax credit (HTC) use and also includes transferability for small projects (those...more

Farrell Fritz, P.C.

Qualified Small Business Stock – Overview and Useful Strategies

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Founders, entrepreneurs, venture capitalists and other investors (all of which are collectively referred to herein as “investors”) should be familiar with Internal Revenue Code Section 1202, a valuable provision that...more

Bennett Jones LLP

Bennett Jones Leading the Way in Employee Ownership Trusts

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Effective January 1, 2024, Canada introduced detailed rules into the Income Tax Act (Canada) to facilitate and encourage employee ownership of small and medium sized Canadian businesses through the creation of employee...more

Bodman

Michigan Enacts Research and Development Tax Credit

Bodman on

On January 13, 2025, Michigan Governor Gretchen Whitmer signed legislation (Michigan House Bill No. 5100) establishing a research and development tax credit (the “Michigan R&D Tax Credit”) in Michigan effective for tax years...more

Wilson Sonsini Goodrich & Rosati

Eligibility of Life Sciences Companies for Qualified Small Business Stock

The “qualified small business stock” (QSBS) tax exemption under Section 1202 of the Internal Revenue Code allows non-corporate founders and investors in certain emerging growth companies organized as corporations to...more

Fox Rothschild LLP

Duke Energy Gives North, South Carolina Customers More Access to Renewable Energy

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Customers of Duke Energy Progress and Duke Energy Carolinas (Duke Energy) have new options to achieve their clean energy goals in the Carolinas. If customers participate in these new programs, there may be additional...more

Nutter McClennen & Fish LLP

Nutter Bank Report: August 2024

CFPB Issues Filing Instructions Guide for Small Business Lending Data - The CFPB has published instructions for banks and other covered financial institutions to submit small business lending data that is required to be...more

Eversheds Sutherland (US) LLP

Close but no cigar: IRS releases updated draft Form 6765 “attempting” to reduce the heightened level of detail required to claim...

On June 21, 2024, the Internal Revenue Service (IRS) released an early draft of revised Form 6765, Credit for Increasing Research Activities. Following the release of the September 2023 draft Form 6765 which dramatically...more

Baker Donelson

SALT Select Developments - April 2024

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State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. ln this newsletter edition, we will briefly summarize selected state and local tax (SALT)...more

Buckingham, Doolittle & Burroughs, LLC

Employee Retention Credit on the Chopping Block as Congress Mulls Tax and Spending Bills

The Tax Relief for American Families and Workers Act of 2024 (H.R. 7024) would terminate the employee retention credit (ERC) for claims filed after January 31, 2024. Initially authorized by the CARES Act to incentivize...more

Ballard Spahr LLP

FinCEN Issues Alert on COVID-19 Employee Retention Tax Credit Fraud

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On November 22, 2023, the Financial Crimes Enforcement Network (“FinCEN”), in close coordination with the Internal Revenue Service (“IRS”) Criminal Investigation (“CI”), issued an alert (“Alert”) regarding the COVID-19...more

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