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Veteran Entrepreneurs Act of 2023

USA118th CongressHR-3214| House 
| Updated: 5/11/2023
Julia Brownley

Julia Brownley

Democratic Representative

California

Cosponsors (4)
Sylvia R. Garcia (Democratic)Derek Kilmer (Democratic)Dina Titus (Democratic)Carol D. Miller (Republican)

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Veteran Entrepreneurs Act of 2023 This bill allows a business-related tax credit of 25% of up to $400,000 of the franchise fees paid or incurred by an eligible veteran for the purchase of a franchise. The bill reduces the amount of such credit if the veteran does not own 100% of the stock or capital or profits interest of the franchisee. An eligible veteran is a person who served in the active military, naval, or air service; was discharged or released under conditions other than dishonorable; and who pays or incurs a franchise fee in connection with a franchise agreement with a franchisor. The veteran may elect to transfer the credit to an eligible franchisor in exchange for a discount in the franchise fee commensurate with the value of the credit. The Small Business Administration and the Department of Veterans Affairs must provide information about the tax credit allowed by this bill to veterans service organizations and veteran advocacy groups.
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Timeline

Bill from Previous Congress

HR 116-446
Veteran Entrepreneurs Act of 2019

Bill from Previous Congress

HR 117-5920
Veteran Entrepreneurs Act of 2021
May 11, 2023
Introduced in House
May 11, 2023
Referred to the House Committee on Ways and Means.
  • Bill from Previous Congress

    HR 116-446
    Veteran Entrepreneurs Act of 2019


  • Bill from Previous Congress

    HR 117-5920
    Veteran Entrepreneurs Act of 2021


  • May 11, 2023
    Introduced in House


  • May 11, 2023
    Referred to the House Committee on Ways and Means.

Taxation

Veteran Entrepreneurs Act of 2023

USA118th CongressHR-3214| House 
| Updated: 5/11/2023
Veteran Entrepreneurs Act of 2023 This bill allows a business-related tax credit of 25% of up to $400,000 of the franchise fees paid or incurred by an eligible veteran for the purchase of a franchise. The bill reduces the amount of such credit if the veteran does not own 100% of the stock or capital or profits interest of the franchisee. An eligible veteran is a person who served in the active military, naval, or air service; was discharged or released under conditions other than dishonorable; and who pays or incurs a franchise fee in connection with a franchise agreement with a franchisor. The veteran may elect to transfer the credit to an eligible franchisor in exchange for a discount in the franchise fee commensurate with the value of the credit. The Small Business Administration and the Department of Veterans Affairs must provide information about the tax credit allowed by this bill to veterans service organizations and veteran advocacy groups.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HR 116-446
Veteran Entrepreneurs Act of 2019

Bill from Previous Congress

HR 117-5920
Veteran Entrepreneurs Act of 2021
May 11, 2023
Introduced in House
May 11, 2023
Referred to the House Committee on Ways and Means.
  • Bill from Previous Congress

    HR 116-446
    Veteran Entrepreneurs Act of 2019


  • Bill from Previous Congress

    HR 117-5920
    Veteran Entrepreneurs Act of 2021


  • May 11, 2023
    Introduced in House


  • May 11, 2023
    Referred to the House Committee on Ways and Means.
Julia Brownley

Julia Brownley

Democratic Representative

California

Cosponsors (4)
Sylvia R. Garcia (Democratic)Derek Kilmer (Democratic)Dina Titus (Democratic)Carol D. Miller (Republican)

Ways and Means Committee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted