Detailed Summary

Invest in Small Business Act of 2009 - Amends the Internal Revenue Code to: (1) increase the exclusion from gross income of gain from the sale or exchange of qualified small business stock from 50 to 100 % of such gain and to reduce the required holding period for such stock from five to four years; (2) deny a tax exclusion for small business stock held by a 25% controlled corporate group; (3) repeal as an item of tax preference under the alternative minimum tax the exclusion of gain from the sale of small business stock; (4) repeal the 28% income tax rate on the gain from the sale of small business stock which is not excluded from gross income; (5) revise the definition of "qualified small business" for certain tax purposes to mean a C corporation with aggregate gross assets not exceeding $100 million (currently, $50 million); and (6) provide for an annual inflation adjustment to the small business aggregate gross asset amount after 2009.

Status of the Legislation

Latest Major Action: 1/6/2009: Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.

Points in Favor

(Log in to edit the wiki and be the first to show why the bill should pass!)

Points Against

(Log in to edit the wiki and be the first to show why the bill should not pass!)