S. 115 · 113th Congress
Small Business Job Creation Act
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
CaseySponsorNo cosponsors.
Small Business Job Creation Act - Amends the Internal Revenue Code to allow an employer a credit against payroll tax liability equal to 10% of the increase of such employer's payroll in a calendar quarter over a corresponding quarter in the previous calendar year. Limits the total credit amount available for all quarters to $500,000.
What it does: CRS summary · Introduced in Senate · Jan 23, 2013
Small Business Job Creation Act - Amends the Internal Revenue Code to allow an employer a credit against payroll tax liability equal to 10% of the increase of such employer's payroll in a calendar quarter over a corresponding quarter in the previous calendar year. Limits the total credit amount available for all quarters to $500,000. Denies such credit to any employer with 100 or more employees unless such employer shows an increase in payroll exceeding 3% in a calendar quarter.
Directs the Commissioner of Internal Revenue to: (1) notify all employers required to withhold employment taxes of the enactment and applicability of this Act, and (2) report to Congress on enforcement measures taken to prevent and penalize fraud related to the payroll tax credit allowed by this Act.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Small Business Job Creation Act
Latest action (Jan 23, 2013): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Jan 23, 2013
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.