4 ms·
There are a lot of exclusions based on the type of business. No farming, banking, finance, insurance, hotels, restaurants, "or any trade or business where the p
by modeless 5y ago
There are a lot of exclusions based on the type of business. No farming, banking, finance, insurance, hotels, restaurants, "or any trade or business where the principal asset of such trade or business is the reputation or skill of 1 or more of its employees" such as doctors, accountants, consultants, etc.
https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section1202&num=0&edition=prelim https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim...
- stevenicr 5y agoI'm considering a opening / franchising a new type of gaming-cafe - I wonder if that would be deemed a 'restaurant'.
- anonymouse008 5y agoFranchising is mostly IP and distribution depending ??
- LurkingPenguin 5y agoYou might want to consider separating the businesses, with the core IP you franchise held in a parent company. Any company-operated restaurants would be separate entities. Not a lawyer/accountant though, so as always, you should seek professional counsel.
- jiveturkey 5y agoDoes it matter for this purpose? I have a hard time imagining that your business raises capital and has an exit, where QSBS will come into play.