Kansas City, MO, January 9, 2013 – Legislation passed last week to address the “fiscal cliff”, the American Taxpayer Relief Act, included a provision that should improve opportunities for high‐growth innovative startup to attract capital. The extension of the 100 percent exemption on capital gains for Qualified Small Business Stock (QSBS) investments included in the act has been championed by the Angel Capital Association (ACA) over the past two years. The extension carries through calendar year 2013 and is also retroactive for 2012.
“There is little question that new and innovative startups drive economic growth,” said Dan Rosen, Chair of the ACA Public Policy Committee. “This extension demonstrates that Congress and the White House understand this linkage. We at ACA are pleased that we have helped our representatives understand the importance of high‐ growth startups to the US economy. We will now work to make this measure permanent.”
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