A bill to amend the Internal Revenue Code of 1986 to extend certain expiring provisions relating to small businesses, and for other purposes.
Small Business Tax Fairness Act - Amends the Internal Revenue Code to extend through 2014: (1) the 100% exclusion from gross income of gain from the sale of certain small business stock; (2) the increased amount of the tax deduction for business start-up expenses; (3) the reductions of the recognition period for built-in gains of S corporations; and (4) the increased expensing allowance for tangible business assets, including computer software, and real property. Allows a deduction in 2013 for health insurance costs in computing self-employment taxable income.
Referred to the House Committee on Ways and Means.
Read twice and referred to the Committee on Finance.
Motion to proceed to consideration of measure made in Senate. (consideration: CR S2043)
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 287.
Motion by Senator Reid to reconsider the vote by which cloture was not invoked on the motion to proceed to the measure (Record Vote No. 117) entered in Senate. (consideration: CR S2527-2528, S2535-2543, S2543-2546, S2546-2547, S2548-2549)
Introduced in Senate
Read twice and referred to the Committee on Finance.
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