Right to Start Act.

SB 351, the Right to Start Act, allows new businesses (corporations, S corporations, LLCs, partnerships, and other entities) less than five years old with under $5,000 in net income to defer their state income tax payment for one year. It also requires state agencies to prioritize contracting with businesses operating under five years and mandates the Department of Administration to collect and report annual data on these contracts, including demographic and geographic breakdowns. The bill directly affects small, newly formed businesses seeking tax relief and state procurement decisions. Key provisions include the tax deferral eligibility criteria and the data collection/reporting requirements for state contracts.