Small Business Jobs and Tax Relief Act

Summary

Small Business Jobs and Tax Relief Act - Amends the Internal Revenue Code to allow certain employers a tax credit for 10% of the excess (if any) of: (1) the wages and compensation paid to their employees in 2012; over (2) the amount of such wages paid in 2011, up to a maximum amount of $5 million. Extends for one year the 100% bonus depreciation allowance for business assets. Increases the amount of alternative minimum tax (AMT) credits that corporate taxpayers may elect to accelerate in a taxable year in lieu of claiming bonus depreciation.

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Documents

3 official files

• Placed on Calendar Senate (text)

  Placed on Calendar Senate · EN · 27 March 2012

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• Placed on Calendar Senate (PDF)

  Placed on Calendar Senate · EN · 27 March 2012

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• Introduced in Senate

  summary · EN · 26 March 2012

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