American Innovation and Employee Stock Ownership Act of 1980

[AI summary unavailable — showing source text] American Innovation and Employee Stock Ownership Act of 1980 - Amends the Internal Revenue Code to provide: (1) for individuals, a deduction from gross income of 80 percent of qualified small corporation net capital gain; and (2) for corporations, an alternative capital gain tax rate of 14 percent of qualified small corporation net capital gain. Defines "qualified small corporation net capital gain" as net capital gain from the sale or exchange of qualified securities of a qualified small corporation: (1) whose gross income for the taxable year does not exceed $30,000,000; (2) whose net worth for such year does not exceed $15,000,000; (3) which employs not more than 1,000 persons below the officer level; (4) at least 15 percent of the total value of shares of all classes of whose stock is owned by such employees; and (5) such stock-owning employees constitute at least 25 percent of the total employees of the corporation.…