H.R. 6428 · 117th Congress
Brick and Mortar Small Business Tax Credit Act of 2022
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
KhannaSponsorNo cosponsors.
This bill allows a new state and local general sales tax credit through 2026 for certain small businesses whose business gross receipts for the taxable year do not exceed $2 million and that were generated by a specified percentage of in-person sales. The amount of the credit is 5% of business gross receipts not exceeding $1 million.
What it does: CRS summary · Introduced in House · Jan 19, 2022
Brick and Mortar Small Business Tax Credit Act of 2022
This bill allows a new state and local general sales tax credit through 2026 for certain small businesses whose business gross receipts for the taxable year do not exceed $2 million and that were generated by a specified percentage of in-person sales. The amount of the credit is 5% of business gross receipts not exceeding $1 million.
The bill also requires the Small Business Administration to conduct a public awareness campaign to inform small businesses of this tax credit.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Brick and Mortar Small Business Tax Credit Act of 2022
Latest action (Jan 19, 2022): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jan 19, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.