Expanding Employee Ownership: New Tax Breaks and Small Business Support
This law makes it easier for employees of small businesses (S corporations) to become owners through Employee Stock Ownership Plans (ESOPs). It removes tax barriers for current owners selling to ESOPs and ensures that ESOP-owned companies retain access to vital small business support programs. The goal is to boost retirement savings and job stability for millions of workers by promoting employee ownership.
Key points
Tax rules are changed to make it immediately more attractive for S corporation owners to sell their company stock to an ESOP.
Companies majority-owned by an ESOP will keep their "small business concern" status, ensuring continued eligibility for federal loans and support programs.
New federal offices, including an Advocate for Employee Ownership, will be established to provide education, technical help, and dispute resolution support for ESOPs.
Status:
Expired
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