Puerto Rico does not offer any tax credits or exclusions for investments in qualified small businesses. However, the tax incentive, Act 60, acts as I.R.C. Section 1202 for investors. Act 60 has several benefits, one of them allowing Puerto Rico residents to pay 0% on capital gains … Read More
Wyoming does not have a state income tax for individuals; therefore, if you receive capital gains in Wyoming there is no tax regardless if Section 1202 100% tax exclusion on capital gains from the sale of QSBS applies. Capital gains on the sale of QSBS will not only be … Read More
Washington does not have a state income tax for individuals, however the state imposed a capital gains tax for gains above $250,000 realized after January 1, 2022, however this capital gains tax does not include gains subject to QSBS treatment. Federal QSBS Exclusions and State Tax Implications Allowing capital … Read More
Utah follows the Section 1202 100% tax exclusion on capital gains from the sale of QSBS. Therefore, capital gains on the sale of QSBS will not only be excluded from federal income taxes, but also state income taxes if all of the guidelines are followed. Federal QSBS Exclusions and State Tax … Read More
Texas does not have a state income tax for individuals; therefore, if you receive capital gains in Texas there is no tax regardless if Section 1202 100% tax exclusion on capital gains from the sale of QSBS applies. Capital gains on the sale of QSBS will not only be … Read More
Tennessee does not have a capital gains state income tax for individuals; therefore, if you receive capital gains in Tennessee there is no tax regardless if Section 1202 100% tax exclusion on capital gains from the sale of QSBS applies. Capital gains on the sale of QSBS will not … Read More
South Dakota does not have a state income tax for individuals; therefore, if you receive capital gains in South Dakota there is no tax regardless if Section 1202 100% tax exclusion on capital gains from the sale of QSBS applies. Capital gains on the sale of QSBS will not … Read More
Pennsylvania does not offer any tax credits or exclusions for investments in qualified small businesses. The state of Pennsylvania taxes capital gains at the same rate as regular income which is a flat rate of 3.07%. Federal QSBS Exclusions and State Tax Implications Allowing capital gains tax exclusions for Qualified … Read More
New Hampshire only taxes interest and dividends for state income tax purposes; therefore, the section 1202 capital gains tax exclusion is irrelevant for New Hampshire state income tax. Federal QSBS Exclusions and State Tax Implications Allowing capital gains tax exclusions for Qualified Small Business Stocks (QSBS) encourages investment in … Read More
Nevada does not have a state income tax for individuals; therefore, if you receive capital gains in Nevada there is no tax regardless if Section 1202 100% tax exclusion on capital gains from the sale of QSBS applies. Capital gains on the sale of QSBS will not only be … Read More