S. 115
Small Business Job Creation Act
Read twice and referred to the Committee on Finance.
Sponsor
Sen. Casey, Robert P., Jr. [D-PA]
Bill Details
- Update Date
- Nov 15, 2022
- Origin Chamber
- Senate
- Bill Type
- S
- Bill Number
- 115
- Congress
- 113
- Introduced Date
- Jan 23, 2013
- Policy Area
- Taxation
- Is Law
- No
Read twice and referred to the Committee on Finance.
Source: Senate
Introduced in Senate
Source: Library of Congress
Small Business Job Creation Act - Amends the Internal Revenue Code to allow an employer a credit against payroll tax liability equal to 10% of the increase of such employer's payroll in a calendar quarter over a corresponding quarter in the previous calendar year. Limits the total credit amount available for all quarters to $500,000. Denies such credit to any employer with 100 or more employees unless such employer shows an increase in payroll exceeding 3% in a calendar quarter.
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 tax credit allowed by this Act.
Finance Committee
Introduced in Senate
Jan 23, 2013