In Boise, legislative Democrats want anybody who takes an ownership stake in a small Idaho business to be eligible for a 50 percent tax break when they unload their share of the venture for a profit.
A measure introduced Thursday in the House Revenue and Taxation Committee is part of the minority party’s six-bill package aimed at helping revive the state’s lagging economy.
The bill seeks to stimulate investment from venture capitalists in companies with 20 or fewer employees, but it would also allow any family members to take stakes in relatives’ companies, then get a 50 percent break on gains once they sell. Operative earnings wouldn’t qualify for the break. (AP)
