HR 6428 · 117th Congress · Taxation

Brick and Mortar Small Business Tax Credit Act of 2022

Introduced 2022-01-19· Sponsored by Rep. Khanna, Ro [D-CA-17]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2022-01-19)

Plain Language Summary

[AI summary unavailable — showing source text] Brick and Mortar Small Business Tax Credit Act of 2022 This bill allows a new state and local general sales tax credit through 2026 for certain small businesses whose business gross receipts for the taxable year do not exceed $2 million and that were generated by a specified percentage of in-person sales. The amount of the credit is 5% of business gross receipts not exceeding $1 million. The bill also requires the Small Business Administration to conduct a public awareness campaign to inform small businesses of this tax credit.…

Summarized by Claude AI · Non-partisan · For informational purposes only