A bill to amend the Internal Revenue Code of 1986 to allow small business employers a credit against income tax with respect to employees who participate in the military reserve components and are called to active duty and with respect to replacement employees and to allow a comparable credit for activated military reservists who are self-employed individuals, and for other purposes.
Small Business Military Reservist Tax Credit Act - Amends the Internal Revenue Code to establish, with respect to individuals participating in qualified military reserve component duty, a tax credit equal to the sum of: (1) in the case of a small business employer, the employment credit with respect to all qualified employees and qualified replacement employees of the taxpayer; and (2) the self-employment credit of a qualified self-employed taxpayer.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S11248-11249)
Read twice and referred to the Committee on Finance.
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