US HB6559 | 2011-2012 | 112th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on September 25 2012 - 25% progression, died in committee
Action: 2012-09-25 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on September 25 2012 - 25% progression, died in committee
Action: 2012-09-25 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Amends the Internal Revenue Code to exempt from passive loss rules any activity of a taxpayer carried on by a high technology research small business pass-thru entity. Defines "high technology research small business pass-thru entity" as any domestic pass-thru entity that: (1) spends a specified percentage of its income on research, (2) is a small business with 250 or fewer employees, and (3) does not have aggregate gross receipts in excess of $150 million.
Title
To amend the Internal Revenue Code of 1986 to provide an exception from the passive loss rules for investments in high technology research small business pass-thru entities.
Sponsors
| Rep. Jim Gerlach [R-PA] | Rep. Richard Neal [D-MA] |
History
| Date | Chamber | Action |
|---|---|---|
| 2012-09-25 | House | Referred to the House Committee on Ways and Means. |
Same As/Similar To
SB3595 (Same As) 2012-09-20 - Read twice and referred to the Committee on Finance.
Subjects
Advanced technology and technological innovations
Business investment and capital
Income tax credits
Income tax deductions
Research and development
Small business
Tax administration and collection, taxpayers
Business investment and capital
Income tax credits
Income tax deductions
Research and development
Small business
Tax administration and collection, taxpayers
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/112th-congress/house-bill/6559/all-info |
| Text | https://www.congress.gov/112/bills/hr6559/BILLS-112hr6559ih.pdf |
