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States crack down on tax break for wealthy investors
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States crack down on tax break for wealthy investors

CNBC·Hayley Cuccinello·24 days ago
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Lake Oswego in Oregon. Bradleyhebdon | Istock Unreleased | Getty Images A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer.  Sign up  to receive future editions, straight to your inbox. A wave of states deciding to take aim at a tax incentive for investors and startup founders could sway some high-net-worth residents to relocate, lawyers to the wealthy told Inside Wealth. The One Big Beautiful Bill Act turbocharged the tax breaks on qualified small business stock, better known as QSBS . However, some states, including Maine and Oregon, have targeted the tax incentive in response to federal funding cuts. "Tax policy has consequences, both good and bad, and I think that the states need to figure out what makes the most sense for them," said David Blum, partner and chair of Akerman's national tax practice group.…

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