A bill to amend the Internal Revenue Code of 1954 to allow small businesses and certain farming operations to claim a credit against income tax in lieu of a deduction for social security taxes paid by such businesses and farming operations.

referredUnited States· United States Congress· EN

Introduced

6 February 1978

Last action

—

Status

Referred to Senate Committee on Finance.

Summary

Amends the Internal Revenue Code to allow employers who operate a small business or farming operation with gross income of $500,000 or less an income tax credit for 40 percent of their social security employer tax liability.

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Votes

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Versions

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Documents

1 official file

Introduced in Senate
summary · EN · 6 February 1978
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/95th-congress/senate-bill/2488
Open data entity: https://api.congress.gov/v3/bill/95/s/2488