Summary: S.551 — 117th Congress (2021-2022)All Information (Except Text)

There is one summary for S.551. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (03/02/2021)

Recovery Startup Assistance Act

This bill expands the employee retention tax credit to include recovery startup businesses. The bill defines recovery startup business as any employer that began a trade or business after February 15, 2020, had less than 50 full-time employees, and did not have gross receipts in excess of $25,000 in the preceding five-year period.