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United States · Bill · HR

H.R. 3930 (97th)

Small Business Tax Relief Act of 1981

openUnited States· United States Congress· EN

Introduced

16 June 1981

Last action

4 August 1981 · Committee

Status

See H.R.4242.

Sponsors

Rep. Mitchell, Parren J. [D-MD-7], Rep. Rangel, Charles B. [D-NY-15], Rep. LaFalce, John J. [D-NY-29], Rep. Nowak, Henry [D-NY-33], Rep. Bowen, David R. [D-MS-2], Rep. Clay, William (Bill) [D-MO-1], Rep. Collins, Cardiss [D-IL-7], Rep. Edgar, Robert W. [D-PA-7], Rep. Gejdenson, Sam [D-CT-2], Rep. Holt, Marjorie S. [R-MD-4], Rep. Neal, Stephen L. [D-NC-5], Rep. Pepper, Claude [D-FL-18], Rep. Rodino, Peter W., Jr. [D-NJ-10], Rep. Roe, Robert A. [D-NJ-8]

Subjects

Discovery layer

Source updated

29 August 2025

Official sourceView documentsShare

Summary

Small Business Tax Relief Act of 1981 - Amends the Internal Revenue Code to reduce corporate income tax rates. Increases from 15 to 25 the permissible number of shareholders in a subchapter S corporation. Increases from $100,000 to $300,000 the allowable cost of used property eligible for the investment tax credit. Provides for a three-year carryback and a seven-year carryover of amounts which exceed $350,000 for any taxable year. Reduces the estate and gift tax rates. Provides for an exemption of $300,000 reduced by amounts allowed as specific exemptions by repealed Code provisions from the gross estate and from the amount used in computing taxable gifts. Repeals the unified credit against the estate and gift taxes. Increases from $3,000 to $10,000 the annual gift tax exclusion.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 16 June 1981

    Introduced

    Referred to House Committee on Ways and Means.

    Source: IntroReferral

  2. 16 June 1981

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 16 June 1981

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 4 August 1981

    Committee

    See H.R.4242.

    Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

Leesvertaling

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Sponsors

Related records

Sources

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