To amend the Internal Revenue Code of 1986 to allow a deduction for certain small business income.

Summary

Amends the Internal Revenue Code to allow a small business that employs 500 or fewer employees a tax deduction in 2010 and 2011 for 20% of the lesser of its qualified small business income or its taxable income. Defines "qualified small business income" to include income which is from sources within the United States and which is not passive income.

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Timeline

1. 22 September 2010

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 22 September 2010

   Introduced

   Introduced in House

   Source: IntroReferral

3. 22 September 2010

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 22 September 2010 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 22 September 2010

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 22 September 2010

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 22 September 2010

  Open at official source

Sponsors

• Rep. Camp, Dave [R-MI-4] · R · Sponsor
• Rep. Cantor, Eric [R-VA-7] · R · Sponsor
• · hswm00 · Standing

Related records

• related to → Responsible Reinvestment Act of 2009