Flake
Flo
Junior Chimp
Posts: 8,688
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« on: September 30, 2014, 02:33:13 PM » |
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Small Business Growth Act of 2014
1. For businesses operating in the IDS with taxable income of under $1,000,000 and under 200 employees, a $2500 tax credit may be taken for each new employee hired after passage.
2. For businesses operating in the IDS with taxable income of under $10,000,000 and under 200 employees, the tax credit shall be phased out at a formula of $2500*(10,000,000 - AGI/10,000,000).
3. After 200 employees, the tax credit is no longer receivable.
4. This legislation is enacted upon passage.
5. This legislation expires on December 31st, 2016
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Sponsor: Maxwell
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