To amend the Internal Revenue Code of 1986 to increase the expense treatment under section 179 of such Code for the first 3 years a business is in existence and to allow an income tax credit for one-half of an individual's self-employment taxes.
Small Business Development Act of 1993 - Amends the Internal Revenue Code to increase the limitation on the election to expense certain depreciable business assets. Allows a higher limitation for the first three years of starting a business.
Allows individuals a credit for 50 percent of the tax on self-employment income. Repeals the itemized deduction for one-half of such tax.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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