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S 1330 112th Congress Senate Taxation Congressional oversight Employment taxes Fraud offenses and financial crimes Income tax credits Small business Social security and elderly assistance Tax administration and collection, taxpayers Wages and earnings

Small Business Job Creation Tax Act of 2011

Introduced: July 6, 2011 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
Jul 6, 2011
Read twice and referred to the Committee on Finance.
Jul 6, 2011
Introduced in Senate
 Plain-English summary Congressional Research Service

Small Business Job Creation Tax Act of 2011- Amends the Internal Revenue Code to allow employers a credit against payroll tax liability for a payroll increase in a quarter over a corresponding quarter in the previous calendar year. Sets the amount of such credit at 20% of such increase for employers that employ fewer than 100 employees and 15% for employers that employ 100 or more employees in any quarter. Limits the total credit amount available for all quarters to $250,000.

Directs the Commissioner of Internal Revenue to: (1) notify all employers required to withhold employment taxes of the enactment and applicability of this Act; and (2) report to Congress on enforcement measures taken to prevent and penalize fraud related to the payroll credit allowed by this Act.

What's happening now July 6, 2011

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1