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New Sanders tax plan would really screw over a lot of startup employees -- would tax options at vest, rather than at exercise. Many employees would be unable to pay -- forcing them either to give up options or take out loans.https://www.wsj.com/articles/bernie-sanders-aims-new-tax-hike-at-executive-retirement-plans-11582815616 …
It will lead to a new category of investors making deals with employees to give them 50 cents on the dollar for their stock. Or 20 cents, since the employees will have no good alternative.
And will take away the best example of collective ownership of companies the US has ever had. Ironic.
That’s the never ending story of “good” intentions with bad incentives.
I thought 83(i) exemptions handled this — or does his tax plan get rid of those?
That’s for ISOs. The article take about NSOs
@ShriBhashyam what say u?
There is already a phantom income issue at exercise, pushing it to time of vest would make things harder. There is an asymmtery in mkt with inst investors picking off employees for cents on $. Employees would be further backed into a corner via this financial pinch.
Do you think we’ll see a change to a more gig/remote work economy in North America as opposed to hourly wages?
Wouldn’t this just finally make the secondary market much, much more liquid? Probably a great outcome for people who are currently locked to companies for which they can’t afford to exercise their vested stock
Also the article mentions NSOs only. ISOs would still be protected, so it would simply push for more ISOs and RSUs and fewer NSOs. Sounds like the impact isn’t as big.
True, not as large as if applied to ISOs. But would still have major impact on employees of highly-valued companies -- because can only have up to $100k in value per yr to qualify for ISO.
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