Small Business Opportunity and Growth Act (H.R. 2239 and S. 965)

Introduced by Congressman Jim Ramstad (R-MN) and Senators Gordon Smith (R-OR) and Blanche Lincoln (D-AR), the bSmall Business Growth and Opportunity Actb will allow S corporations to liquidate unproductive assets held for a period of 7 years free of the double tax burden of the bbuilt-in gains tax.bB This provision is also included in the bS Corporation Reform Act.b