Tax credit for veterans who start businesses?

The Veterans Jobs Opportunity Act is a bi-partisan Senate measure that would give a 15% tax credit on the first $50,000 of start-up costs for veterans who start businesses. A similar House bill (H.R. 3084) was introduced earlier this year. Under the measure, an eligible Veteran-owned business would be one owned and controlled by one or more veterans or their spouses. The bill would limit the credit to businesses in underserved communities: HUBZones, empowerment or enterprise communities, areas with low- or moderate income, or a county with persistent poverty. A similar measure filed to be enacted last year. There’s more about veteran entrepreneurs in an earlier blog. #IdeaoftheDay