Tax Playbook · Investment tax wins
QSBS: exclude millions in gains
Own stock in a small startup? Hold it 5 years and you could pay zero federal tax when you sell — on up to $15 million of profit. Hold 3 years and half the profit is tax-free; 4 years, three-quarters. (Those are the new rules for stock issued after July 4, 2025.) One big exception: California doesn't honor this — expect a state tax bill.
Good for: Startup employees and founders with equity.
Learn the basics
Recent articles & guides
- Williams Mullen — OBBBA expands Section 1202
- EisnerAmper — QSBS planning for private equity under OBBBA
- Summitry — California QSBS tax rules (non-conformity)
- SDO CPA — QSBS guide
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Educational summary, not tax advice. Limits and rules change — confirm current law with your tax adviser.