A bill to amend the Internal Revenue Code of 1986 to provide a partially refundable credit against payroll taxes for certain restaurants affected by the COVID-19 pandemic.
Restaurant Revitalization Tax Credit Act
This bill allows certain restaurants affected by the COVID-19 pandemic a credit against payroll tax liability up to 100% of the wages paid to their employees, not to exceed $25,000 in any calendar quarter.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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