As part of President Biden’s legislative agenda, the Inflation Reduction Act of 2022 becomes law. Among the policies enacted, a new excise tax is imposed on stock repurchases – with bipartisan support, ESOPs were specifically excluded from this tax, protecting the ESOP structure that relies on stock repurchases and creating a new incentive to form ESOPs. ESOPs become eligible transactions under the State Small Business Credit Initiative (SSBCI) loan program.
The ESOP Association
ESOP Association Resources
Feb. 01
Despite strong pressure to find ways to pay for a new tax cut, The ESOP Association and its partners successfully fight to keep ESOP tax benefits intact.