To amend the Internal Revenue Code of 1986 to provide incentives for the creation of jobs and business opportunities by individuals and small businesses through reduction of the social security tax burden on small employers and the self-employed.
Job Creation and Business Equity Act of 1994 - Amends the Internal Revenue Code to exempt new self-employed businesses from the tax on self-employment income until such income exceeds $25,000. Exempts new business employers from employment taxes until the gross value of wages exceeds $100,000.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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