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HR 3907 110th Congress House Taxation Agriculture and Food Brownfields Capital gains tax Commerce Corporation taxes Depreciation and amortization Depressed areas Economics and Public Finance Enterprise zones Environmental Protection Finance and Financial Sector Government Operations and Politics Government contractors Hazardous wastes Income tax Labor and Employment Leases Liability for environmental damages Research and development tax credit

Small Business Tax Relief Act of 2007

Introduced: October 18, 2007 Introduced by: Murphy, Christopher Democratic · Connecticut See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 18, 2007
Referred to the House Committee on Ways and Means.
Oct 18, 2007
Introduced in House
 Plain-English summary Congressional Research Service

Small Business Tax Relief Act of 2007 - Amends the Internal Revenue Code to: (1) make permanent the work opportunity tax credit, the new markets tax credit, and the tax credit for increasing research activities; (2) make permanent accelerated depreciation of qualified leasehold improvement and restaurant property and expensing of environmental remediation expenditures; (3) increase the partial tax exclusion of gain from sales of certain small business stock for noncorporate business taxpayers and businesses in an empowerment zone; (4) permit certain small businesses to elect taxable years ending between April and November; (5) increase the allowable number of S corporation shareholders from 100 to 150; and (6) exempt certain small businesses from the 3% withholding requirement applicable to payments made to such businesses by government entities.

What's happening now October 18, 2007

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1