HR 6428 · 117th Congress · Taxation
Brick and Mortar Small Business Tax Credit Act of 2022
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the House Committee on Ways and Means.(2022-01-19)
Plain Language Summary
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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