Tax
Aug. 5, 2025
QSBS gets a launchpad in Trump's tax bill -- but states may block the flight path
Trump's new tax bill quietly delivers a major win for startup investors by reshaping federal rules on Qualified Small Business Stock. The catch? State law may still get in the way.
Phil Jelsma
Partner and Chair of the Tax Practice Team
Crosbie Gliner Schiffman Southard & Swanson LLC (CGS3)
Email: pjelsma@cgs3.com
Phil is chair of the tax practice team at CGS3. He is recognized as a leading joint venture and tax attorney, with a 30-year background in real estate exchange transactions, syndications, nonprofit corporations and international tax planning.
Donald Trump recently signed into law the One Big, Beautiful
Bill Act (OBBBA) -- a budget reconciliation bill that extends the tax cuts
originally enacted under the 2017 Tax Cuts and Jobs Act -- introducing a range
of new tax incentives and implementing significant spending reductions.
Among its many tax-focused provisions, $95
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