To amend the Internal Revenue Code of 1986 to increase the research tax credit and provide better access to the credit for business startups.
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Jul 23, 2020)
This bill increases from 20% to 40% the rate of the tax credit for increasing research activities. It also increases the rate of the alternative simplified research credit and the credit rate where there have been no research expenses for the preceding three years.
The bill also increases the amount of research expenses for purposes of calculating the payroll tax credit allowed to certain small businesses.
What just happenedJul 23, 2020
Referred to the Subcommittee on Select Revenue Measures.
Who’s behind it
- Introduced in HouseJul 23, 2020
- Jul 23, 2020Committee
Referred to the Subcommittee on Select Revenue Measures.
Tax Subcommittee - Jul 23, 2020IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Jul 23, 2020IntroReferralIntro-H
Introduced in House
- Jul 23, 2020IntroReferral1000
Introduced in House