Jobs Creation Act

[AI summary unavailable — showing source text] Jobs Creation Act - Allows as a tax credit under the Internal Revenue Code an amount equal to ten percent of the increase in the total amount of qualified savings deposits and investments of an individual. Stipulates that such credit shall not exceed $1,000. Increases the maximum tax deduction for retirement savings to $2,000. Excludes from gross income amounts received by an individual as dividends from domestic corporations. Allows a taxpayer to exclude from gross income up to $1,000 of gain from the sale or exchange of securities. Allows the nonrecognition of gain from the sale or exchange of qualified small business property, at the election of the taxpayer, to the extent that the amount realized on such sale or exchange is reinvested in qualified small business property by the taxpayer during the reinvestment period beginning one year before the date of the sale or exchange and ending one year after such date. Allows the executor of an estate which includes an interest in a qualified closely held business which exceeds either 35 percent of the value of the gross estate or 50 percent of the value of the taxable estate, but is less than $300,000 to elect: (1) to pay the estate t…