FCC lauds media bill
Regs give sellers of telecom businesses a tax deferral
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The bill, which drew immediate praise from Federal Communications Commission topper Michael Powell, would give sellers of broadcast, cable and other telecom businesses a tax deferral when cutting deals with smaller companies.
It also would allow the seller to claim a tax deferral on capital gains if it invests the proceeds of that sale in buying an interest in an eligible small telecom business.
McCain said the measure would encourage the entry of new players.
"The market-based incentives in this bill are the most effective way of leveling the playing field between small business owners and CEOs of huge corporations trying to purchase a telecommunications business," McCain said in a statement.
Now, small ventures often lose out because they can't offer sellers the same favorable tax treatment as the big guns.
