IRS Issues Favorable QSBS Tax Ruling for Businesses
Withum
JUNE 6, 2022
Section 1202 provides for the full or partial exclusion of capital gain realized on the sale of QSBS. The taxpayer in PLR 202221006 (March 3, 2022) is a pharmaceutical distributor that engages in the retail sale of a limited number of drugs. The IRS noted that all of the taxpayer’s revenues are generated by the sale of drugs.
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