Small Business Job Tax Credit Act of 1981

Summary

Small Business Job Tax Credit Act of 1981 - Amends the Internal Revenue Code to replace the targeted jobs credit with a job development credit. Allows small businesses (gross receipts of $5,00,000 or less for a taxable year) a partially refundable income tax credit for wages paid with respect to the employment of either: (1) an unemployed individual over 21 years old eligible to receive unemployment compensation, or an unemployed individual between 18 and 21 years old seeking work and not enrolled in a full-time educational instruction; (2) a member of a targeted group; or (3) a resident of an area of substantial unemployment. Extends the termination date for the jobs credit to 1983. Requires employers, to the maximum extent feasible, to provide job training to the employees for whom a jobs credit is allowed.

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1 official file

• Introduced in Senate

  summary · EN · 25 June 1981

  Open at official source

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