HR 13695 · 94th Congress · Taxation

Small Business Tax Reduction Act

Introduced 1976-05-11· Sponsored by Rep. Hammerschmidt, John P. [R-AR-3]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1976-05-11)

Plain Language Summary

[AI summary unavailable — showing source text] Small Business Tax Reduction Act - Allows as a tax credit against the tax imposed under the Internal Revenue Code an amount equal to ten percent of the social security taxes on employers paid during the taxable year by the corporation. Limits such credit to the amount of employer's tax paid on ten employees.…

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