S. 193
Startup Innovation Credit Act of 2013
Read twice and referred to the Committee on Finance.
Sponsor
Sen. Coons, Christopher A. [D-DE]
Bill Details
- Update Date
- Nov 15, 2022
- Origin Chamber
- Senate
- Bill Type
- S
- Bill Number
- 193
- Congress
- 113
- Introduced Date
- Jan 31, 2013
- Policy Area
- Taxation
- Is Law
- No
Read twice and referred to the Committee on Finance.
Source: Senate
Sponsor introductory remarks on measure. (CR S439-440)
Source: Library of Congress
Introduced in Senate
Source: Library of Congress
Startup Innovation Credit Act of 2013 - 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.
Finance Committee
Introduced in Senate
Jan 31, 2013