All Information (Except Text) for S.973 - Angel Tax Credit Act114th Congress (2015-2016)
|Sponsor:||Sen. Murphy, Christopher [D-CT] (Introduced 04/16/2015)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 04/16/2015 Read twice and referred to the Committee on Finance. (All Actions)|
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Actions Overview (1)
|04/16/2015||Introduced in Senate|
04/16/2015 Introduced in Senate
All Actions (1)
|04/16/2015||Read twice and referred to the Committee on Finance.|
Action By: Senate
04/16/2015 Read twice and referred to the Committee on Finance.
|Committee / Subcommittee||Date||Activity||Reports|
|Senate Finance||04/16/2015||Referred to|
Subject — Policy Area:
One Policy Area term, which best describes an entire measure, is assigned to every public bill or resolution.
Latest Summary (1)
Introduced in Senate (04/16/2015)
Angel Tax Credit Act
Amends the Internal Revenue Code to allow a new business-related tax credit for 25% of equity investments of $25,000 or more in a domestic corporation or partnership that: (1) has its headquarters in the United States, (2) has gross revenues for the taxable year of less than $1 million, (3) employs fewer than 25 full-time employees, (4) has been in existence for less than 7 years as of the date of the investment, (5) has more than 50% of its employees performing substantially all of their services in the United States, and (6) is engaged in a high technology trade or business. Limits the allowable amount of such credit to $250,000 in any taxable year and imposes an overall limitation on such credit of $500 million for each of calendar years 2015 through 2019.