American Innovation and Employee Stock Ownership Act of 1980

Summary

American Innovation and Employee Stock Ownership Act of 1980 - Amends the Internal Revenue Code to provide: (1) for individuals, a deduction from gross income of 80 percent of qualified small corporation net capital gain; and (2) for corporations, an alternative capital gain tax rate of 14 percent of qualified small corporation net capital gain. Defines "qualified small corporation net capital gain" as net capital gain from the sale or exchange of qualified securities of a qualified small corporation: (1) whose gross income for the taxable year does not exceed $30,000,000; (2) whose net worth for such year does not exceed $15,000,000; (3) which employs not more than 1,000 persons below the officer level; (4) at least 15 percent of the total value of shares of all classes of whose stock is owned by such employees; and (5) such stock-owning employees constitute at least 25 percent of the total employees of the corporation.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 30 September 1980

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.