H.R.2680 - Small Business Tax Relief and Jobs Act of 2017115th Congress (2017-2018) |
|Sponsor:||Rep. Crist, Charlie [D-FL-13] (Introduced 05/25/2017)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 05/25/2017 Referred to the House Committee on Ways and Means. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.2680 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in House (05/25/2017)
Small Business Tax Relief and Jobs Act of 2017
This bill amends the Internal Revenue Code to allow eligible small businesses an annual tax credit equal to 3.825% of the wages paid to up to three newly hired employees. The wages taken into account with respect to any employee may not exceed $100,000 per year.
An "eligible small business" must have under $1.5 million in gross receipts and no more than 20 full-time employees during the preceding taxable year.