U.S. Rep. Adams introduces small business legislation for VetsBy Yasmine Regester / November 13, 2015
Congresswoman Alma S. Adams (N.C.-12) visited Greensboro this week to announce new legislation aimed at helping more veterans become small business owners.
“Our veterans put their lives on the line to protect our nation and we owe it to them to ensure they have the resources they need to thrive when they return home,” said Congresswoman Adams, a member of the House Small Business Committee. “The Veterans Small Business Tax Credit Act is aimed at helping our veterans become entrepreneurs by relieving some of the financial burdens associated with starting a business.”
The Veterans Small Business Tax Credit Act of 2015 would provide a tax credit for veteran small business owners that could be claimed for the purchase or lease of property, equipment and materials. The maximum credit is $12,000 and could only be claimed for start-up expenses incurred during the first two years of a company’s operation.
“This is going to help a lot of veterans who are trying to start a business to take care of themselves and their families,” said Troy Richards, who is interested in starting his own computer repair business.
In October, Congresswoman Adams hosted a roundtable with veteran small business owners to hear the challenges in starting, running and growing a small business. On Monday night, Adams led a town hall meeting at New Light Missionary Baptist Church in Greensboro to address questions from veterans about the legislation and any other issues they had.
There are nearly 800,000 veterans in North Carolina and more than 37,000 veterans live in North Carolina’s 12th Congressional District.
Veterans can get assistance with their questions by calling the Veterans hotline through Adams’ Washington D.C. office: (202) 225-7475 or visit Adams’ congressional Web site: adams.house.gov.