legislation: 112-hr-6319
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| bill_id | congress | bill_type | bill_number | title | policy_area | introduced_date | latest_action_date | latest_action_text | origin_chamber | sponsor_name | sponsor_state | sponsor_party | sponsor_bioguide_id | cosponsor_count | summary_text | update_date | url |
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| 112-hr-6319 | 112 | hr | 6319 | Startup Innovation Credit Act of 2012 | Taxation | 2012-08-02 | 2012-08-02 | Referred to the House Committee on Ways and Means. | House | Rep. Gerlach, Jim [R-PA-6] | PA | R | G000549 | 1 | 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. | 2019-11-15T21:47:04Z |