You had a very informative article around the nuances of Qualified Small Business Stock in CA. 

Given the 100% exclusion for investments in small businesses from Sep 2010 through Jan 1, 2012 that are held for 5 years and match the other criteria, doesn't it make sense to create companies during the 2011 year? 

I have a few business concepts I intend to launch at some point (could be anytime between now and 2013).  It seems advantageous to form and minimally capitalize them within the 2011 calendar year to start the 5-year clock and open the door to a potential 100% exclusion to LT capital gains.

Would you agree?

On a separate note, if QSBS is purchased by an LLC (taxed as a partnership) and held for 5 years, does it still qualify as QSBS?   Seems like "non-corporate" entities includes both individuals and partnerships.  

As a follow-up, if an individual contributes QSBS to a partnership, and then has it later redistributed back to him, would the 5-year holding period still be valid?  In other words, can you transfer the stock in and out of a partnership without invalidating it's QSBS status?

QSBS seems a bit undefined.   Thanks in advance for considering the question!