If you're a startup founder or small business owner in California, you might be sitting on one of the most powerful tax breaks available, and not even know it. The Qualified Small Business Stock (QSBS) exclusion can allow you to exclude up to 100% of capital gains from federal taxes when you eventually sell your business. This isn’t a loophole, it’s written directly into federal tax code. And if your business qualifies, it could mean saving thousands or even millions of dollars in taxes down the road. While much of the tax world focuses on yearly deductions or expense strategies, the QSBS exclusion is a long term planning opportunity that rewards owners who build and eventually exit a successful business. It’s ideal for LLCs that convert to C-Corps, early stage startups, or even solo founders who intend to sell their companies within a few years.
If you’re a small business owner in Los Angeles County, getting government contracts might seem out of reach, especially when you’re competing with large companies that have dedicated teams for bidding. But what if there were a way to level the playing field? That’s where the L.A. County Small Business Set Aside Program comes in. This program helps small businesses win county contracts by giving them exclusive opportunities that big companies can’t touch.
What is LA City’s Gross Receipts Tax Exemption?