Business Development Incentives for Veterans and Military Spouses

Summary

The bill creates a new statute that waives state filing fees for new or relocating veteran‑ or military‑spouse‑owned businesses and gives them a five‑year corporate income tax exemption plus a one‑time sales‑tax exemption on equipment. It applies to businesses with 200 or fewer employees and a net worth of $5 million or less that are at least 51 % owned and operated by veterans or military spouses. The measure seeks to support these entrepreneurs, who often face frequent relocations and economic instability.

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