Veterans Jobs Opportunity Act

[AI summary unavailable — showing source text] Veterans Jobs Opportunity Act This bill allows veteran-owned small businesses in underserved communities to claim a tax credit for qualified start-up expenses in the amount of 15% (up to $50,000) of such expenses. (Conditions and limitations apply.) Under the bill, a business qualifies for the veteran small business start-up tax credit if it is owned and controlled by one or more veterans (or spouses of veterans); is located in a Historically Underutilized Business Zone (HUBZone) program area, empowerment zone or enterprise community, an area of low or moderate income, or county with persistent poverty; and has gross receipts for the prior tax year of $5 million or less (or employed 50 or fewer full-time employees in the prior tax year). The bill generally defines qualified start-up expenses as amounts incurred or paid to investigate the creation or acquisition of the business, create the business, engage in activities for the production of income before the day the business opens, and purchase or lease real property (or purchase personal property) for use in the active conduct of a trade or business. However, under the bill, the veteran small business start-up tax credit…