United States · Bill · HR
H.R. 4947 (116th)
Small Business Prosperity Act of 2019
Introduced
31 October 2019
Last action
31 October 2019 · Introduced
Status
Referred to the House Committee on Ways and Means.
Sponsors
Rep. Biggs, Andy [R-AZ-5]
Subjects
Taxation
Source updated
3 January 2025
Summary
Small Business Prosperity Act of 2019 This bill amends the Internal Revenue Code, with respect to the deduction for qualified business income, to (1) make such deduction permanent, (2) limit to 21% the top tax rate on qualified business income, (3) repeal the limitation on the deduction based on amount of wages paid, and (4) revise the definition of "qualified trade or business" to mean any trade or business other than the trade of business of performing services as an employee. The bill provides that a change in the organizational structure of a corporation is not a taxable event if there is no change among the owners, their ownership interests, or the assets of the organization, The bill repeals the estate tax after 2019.
This text is taken from the official record. PoliticalRepo does not editorialize.
Timeline
31 October 2019
Introduced
Referred to the House Committee on Ways and Means.
Source: IntroReferral
31 October 2019
Introduced
Introduced in House
Source: IntroReferral
31 October 2019
Introduced
Introduced in House
Source: IntroReferral
Votes
No vote records are attached yet.
Versions
- Introduced in House · 31 October 2019 · Download file
Documents
3 official files
Introduced in House (text)
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Introduced in House (text)
Introduced in House · EN · 31 October 2019
Introduced in House (PDF)
Introduced in House · EN · 31 October 2019
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Introduced in House
summary · EN · 31 October 2019
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.
Sponsors
- Rep. Biggs, Andy [R-AZ-5] · R · Sponsor
- · hswm00 · Standing
Related records
- related to → Main Street Tax Certainty Act
- related to → Freedom for Small Businesses Act of 2019
- related to → Small Business Prosperity Act of 2022
- related to ← Responsible Relief for Americans Act
Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/116th-congress/house-bill/4947
- Open data entity: https://api.congress.gov/v3/bill/116/hr/4947
- us · 116-hr-4947 · source updated 3 January 2025