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S 2050 112th Congress Senate

Small Business Tax Extenders Act of 2012

Official title: A bill to amend the Internal Revenue Code of 1986 to extend certain provisions of the Creating Small Business Jobs Act of 2010, and for other purposes.

Introduced: April 26, 2012 See on congress.gov
Taxation Accounting and auditingBusiness investment and capitalCapital gains taxComputers and information technology
More subjectsShow fewer subjects
Contracts and agencyEmployee benefits and pensionsEmployment taxesHealth care costs and insuranceIncome tax creditsIncome tax deductionsIncome tax exclusionInflation and pricesSecuritiesSelf-employedSmall businessTax administration and collection, taxpayers
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This bill died when the 112th Congress ended
It never became law before the 112th Congress (2011–2012) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 31, 2012
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S211-212)
Jan 31, 2012
Sponsor introductory remarks on measure. (CR S210-211)
Jan 31, 2012
Introduced in Senate
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 Latest action January 31, 2012

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S211-212)

 Plain-English summary Congressional Research Service

Small Business Tax Extenders Act of 2012 - Amends the Internal Revenue Code to extend through 2012: (1) the 100% exclusion from gross income of gain from the sale or exchange of certain small business stock; (2) the five-year carryback of the general business tax credits of eligible small businesses; (3) the offset against the alternative minimum tax (AMT) of general business tax credits; (4) the reduction (from seven to five years) in the recognition period for the built-in gains of S corporations; (5) the increased expensing allowance for depreciable business assets, including computer software; (6) the special tax rule for long-term contract accounting; (7) the increased tax deduction for small business start-up expenditures; and (8) the tax deduction for health insurance premiums in computing self-employment taxable income.

 Related & companion bills 1
  • S 1801 Related bill Small Business Jobs Tax Extenders Act of 2011
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 2
D
Klobuchar, Amy
Minnesota · Jun 27, 2012
 D
Gillibrand, Kirsten E.
New York · Apr 26, 2012
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2050: Small Business Tax Extenders Act of 2012. 112th Congress. Open America. https://openamerica.io/bill/112-S-2050/
MLA
"S. 2050: Small Business Tax Extenders Act of 2012." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-S-2050/.
Bluebook (legal)
S. 2050, 112th Cong. (2026), https://openamerica.io/bill/112-S-2050/.
Markdown link
[S. 2050: Small Business Tax Extenders Act of 2012](https://openamerica.io/bill/112-S-2050/)
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