Veteran Entrepreneurs Act of 201 8 This bill amends the Internal Revenue Code to allow a business-related tax credit of up to $100,000 for 25% of the franchise fees paid or incurred by a veteran for the purchase of a franchise. The bill reduces the amount of such credit if the veteran does not own 100% of the stock or of the capital or profits interest of the franchisee. The veteran may elect to transfer the credit to a franchisor in exchange for a discount in the franchise fee commensurate with the value of the credit. The Small Business Administration and the Department of Veterans Affairs must provide information about the tax credit allowed by this bill to veterans service organizations and veteran advocacy groups.
Government information and archivesIncome tax creditsRetail and wholesale tradesSmall businessUser charges and feesVeterans' education, employment, rehabilitation
A bill to amend the Internal Revenue Code of 1986 to allow credits for the establishment of franchises by veterans.
USA115th CongressS-2950| Senate
| Updated: 5/24/2018
Veteran Entrepreneurs Act of 201 8 This bill amends the Internal Revenue Code to allow a business-related tax credit of up to $100,000 for 25% of the franchise fees paid or incurred by a veteran for the purchase of a franchise. The bill reduces the amount of such credit if the veteran does not own 100% of the stock or of the capital or profits interest of the franchisee. The veteran may elect to transfer the credit to a franchisor in exchange for a discount in the franchise fee commensurate with the value of the credit. The Small Business Administration and the Department of Veterans Affairs must provide information about the tax credit allowed by this bill to veterans service organizations and veteran advocacy groups.
Government information and archivesIncome tax creditsRetail and wholesale tradesSmall businessUser charges and feesVeterans' education, employment, rehabilitation