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S 3460 112th Congress Senate

Startup Innovation Credit Act of 2012

Official title: A bill to amend the Internal Revenue Code of 1986 to provide for startup businesses to use a portion of the research and development credit to offset payroll taxes.

Introduced: July 31, 2012 Introduced by: Coons, Christopher A. Democratic · Delaware See on congress.gov
Taxation Employment taxesGovernment trust fundsIncome tax creditsResearch and development
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Small businessSocial security and elderly assistance
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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
Jul 31, 2012
Read twice and referred to the Committee on Finance.
Jul 31, 2012
Sponsor introductory remarks on measure. (CR S5735)
Jul 31, 2012
Introduced in Senate
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 Latest action July 31, 2012

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

Startup Innovation Credit Act of 2012 - Amends the Internal Revenue Code to allow a qualified small business, other than a tax-exempt organization, to use a portion of its tax credit for increasing research expenditures as an offset against its payroll tax liability under the Federal Insurance Contributions Act (FICA).  Defines "qualified small business" as a corporation, partnership, or S corporation if the gross receipts of such entity for the taxable year are less than $5 million and such entity did not have gross receipts for any period preceding the 5-year period ending with such taxable year. Limits the amount of the payroll tax credit portion to $250,000 in any taxable year.

 Related & companion bills 1
  • HR 6319 Identical bill Startup Innovation Credit Act of 2012
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Schumer, Charles E.
New York · Jul 31, 2012
Cite this page click to expand
APA
U.S. Congress. (2026). S. 3460: Startup Innovation Credit Act of 2012. 112th Congress. Open America. https://openamerica.io/bill/112-S-3460/
MLA
"S. 3460: Startup Innovation Credit Act of 2012." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-S-3460/.
Bluebook (legal)
S. 3460, 112th Cong. (2026), https://openamerica.io/bill/112-S-3460/.
Markdown link
[S. 3460: Startup Innovation Credit Act of 2012](https://openamerica.io/bill/112-S-3460/)
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