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Tax Reform Taxation Tax Exemptions

Frost Brown Todd

Section 1202 and QSBS: A Survey of States That Don’t Conform to the Federal Treatment

Frost Brown Todd on

Section 1202 of the Internal Revenue Code provides a capital gains exclusion for certain qualified small business stock (QSBS) when a stockholder sells the same. This gain exclusion impacts venture-backed startups, angel...more

Mintz - Tax Viewpoints

QSBS Benefits Expanded Under One Big Beautiful Bill Act

Mintz - Tax Viewpoints on

On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (OBBBA), which included revisions to Section[1] 1202 for “qualified small business stock” (QSBS) unchanged from those initially introduced in the...more

Frost Brown Todd

One Big Beautiful Bill Act Enacts a Permanent Increase in the Estate and Gift Tax Lifetime Exclusion Amount for 2025 and Later...

Frost Brown Todd on

On July 3, 2025, and by a vote of 218 to 214, the U.S. House of Representative passed the Senate’s amended version of H.R. 1 (also known as the “One Big Beautiful Bill Act” or OBBBA 2025), which is the tax-and-budget...more

Miller Canfield

One Big Beautiful Bill: Estate and Gift Tax Exclusion and the Generation-Skipping Transfer Tax Exemption Increases to $15 Million

Miller Canfield on

The One Big Beautiful Bill (OBBB), which passed on July 3 and was signed by President Donald Trump on July 4, increases the amount individuals may transfer for federal estate, gift, and generation-skipping transfer tax...more

Patterson Belknap Webb & Tyler LLP

Changes to QSBS Rules

As if QSBS wasn’t good enough already, the “Big Beautiful Bill” signed into law by President Trump on July 4, 2025 enacts significant, founder-friendly changes to Section 1202 of the Internal Revenue Code, which substantially...more

Cadwalader, Wickersham & Taft LLP

House Republicans to Large Endowments: “Ask Not What …”

Under the House’s current draft budget bill, which was released on May 15, 2025, the 1.4% excise tax on private universities’ net investment income would increase up to 21%, effectively negating one of the main benefits of...more

Ropes & Gray LLP

House Passes Tax Package with Several Carved-Back Provisions Relevant to Tax-Exempt Organizations

Ropes & Gray LLP on

On May 22, 2025 the House of Representatives passed its version of the “One Big Beautiful Bill Act” (the “BBB”). As described in our prior Alert, the proposed package includes several key provisions of particular importance...more

Bricker Graydon LLP

The Possible Repeal of the Tax Exemption of Municipal Bond Interest

Bricker Graydon LLP on

You may have heard recently about proposals for Congress to remove the exclusion from gross income of interest on state and local bonds, usually referred to as “repealing the tax exemption on municipal bonds.”  This issue...more

Polsinelli

Impact of New Tax Laws on Estate Planning

Polsinelli on

The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by the President on December 22, 2017, and represents one of the most significant rewritings of the federal tax code since 1986. ...more

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