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Start-up Jobs & Innovation Act
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The Start-up Jobs and Innovation Act (S.1658) was introduced to allow small R&D-focused companies to partner with their investors on research projects, and allow both parties to realize business and tax benefits.
The SJIA would amend the Internal Revenue Code to: (1) make permanent the increase to $500,000 of the expensing allowance for business assets, including computer software, and the treatment of qualified real property as depreciable business property; (2) make permanent the 100% exclusion from gross income of gain from the sale or exchange of small business stock; (3) increase and equalize the tax deduction for business start-up expenses and organizational expenditures; (4) increase from $5 million to $10 million the gross receipt test used to determine the eligibility of small businesses to use simplified cash accounting and inventory rules; and (5) exempt from passive loss rules any research activity carried on by a high technology research small business pass-thru entity.
MichBio supports enactment of S. 1658 to encourage early-stage investment in innovative research.
 

Related Resources

Startup Jobs and Innovation Act Could Mean Big Break for Life Science industry
BIO Letter on Startup Jobs and Innovation Act
Start-up Jobs & Innovation Act (S. 1658) (pdf)

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