Tax Credit Proposed for Veteran Entrepreneurs

A bill called the Veteran Entrepreneur Act of 2021 (H.R. 5920) would create a tax credit for veterans who become franchisees. The credit would be 25% of the franchise fee not exceeding $400,000. So, the top credit could be $100,000. The credit would be reduced if the franchise were not 100% owned by the veteran. There had been a previous bill (H.R. 4433) with the same name introduced earlier this year to require the SBA to create a pilot program to help veterans small business entrepreneurship. Chances of either measure being enacted? Unlikely this year. #IdeaoftheDay

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