S. 1381 · 111th Congress
Small Business Tax Relief Act of 2009
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
GrassleySponsorNo cosponsors.
Small Business Tax Relief Act of 2009 - Amends Internal Revenue Code provisions relating to small business to: (1) increase and make permanent the election to expense small business assets, including computer software, in the current taxable year; (2) reduce graduated tax rates for corporations with taxable incomes of less than $10 million; (3) exempt…
What it does: CRS summary · Introduced in Senate · Jun 25, 2009
Small Business Tax Relief Act of 2009 - Amends Internal Revenue Code provisions relating to small business to: (1) increase and make permanent the election to expense small business assets, including computer software, in the current taxable year; (2) reduce graduated tax rates for corporations with taxable incomes of less than $10 million; (3) exempt income attributable to business tax credits from the alternative minimum tax (AMT); (4) allow five-year carrybacks for business tax credits and small business net operating losses; (5) allow an enhanced tax deduction for income attributable to small business domestic production activities; (6) reduce to five years the recognition period for the built-in gains of S corporations; (7) exclude from gross income all gain from the sale of certain small business stock before 2011; and (8) allow a deduction from the income of self-employed individuals for health insurance costs.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Small Business Tax Relief Act of 2009
Latest action (Jun 25, 2009): Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S7094-7095)
Policy area: Taxation · Origin: Senate · Introduced: Jun 25, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.