S. 2913 · 109th Congress
Small Business Efficiency Act of 2006
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
GrassleySponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Small Business Efficiency Act of 2006 - Amends the Internal Revenue Code to treat professional employer organizations (PEOs), certified by the Internal Revenue Service (IRS), as employers for employment tax purposes (thus allowing such PEOs to pay wages and collect and remit payroll taxes on behalf of an employer).
What it does: CRS summary · Introduced in Senate · May 19, 2006
Small Business Efficiency Act of 2006 - Amends the Internal Revenue Code to treat professional employer organizations (PEOs), certified by the Internal Revenue Service (IRS), as employers for employment tax purposes (thus allowing such PEOs to pay wages and collect and remit payroll taxes on behalf of an employer).
Sets forth IRS certification requirements for PEOs, including financial review and reporting requirements. Requires a PEO to post a bond (the greater of $50,000 or 5% of the organization's tax liability for the preceding calendar year not to exceed $1,000,000) to guarantee payment of employment taxes.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Small Business Efficiency Act of 2006
Latest action (May 19, 2006): Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S4837-4839)
Policy area: Taxation · Origin: Senate · Introduced: May 19, 2006
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.