U.S. Congress - H.R.4174 Tax Relief for Business Growth and Sustainability Act of 2009
H.R.4174 - Tax Relief for Business Growth and Sustainability Act of 2009
To amend the Internal Revenue Code of 1986 to provide relief with respect to estate and gift taxes, small businesses, and government contractors. view all titles (2)
All Bill Titles
- Official: To amend the Internal Revenue Code of 1986 to provide relief with respect to estate and gift taxes, small businesses, and government contractors. as introduced.
- Short: Tax Relief for Business Growth and Sustainability Act of 2009 as introduced.
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Official Summary
12/2/2009--Introduced.Tax Relief for Business Growth and Sustainability Act of 2009 - Makes the general terminating date of the Economic Growth and Tax Relief Reconciliation Act of 2001 (i.e., December 31, 2010) inapplicable to its estate and gift tax provisions, except for the repeal of tOfficial Summary
12/2/2009--Introduced.Tax Relief for Business Growth and Sustainability Act of 2009 - Makes the general terminating date of the Economic Growth and Tax Relief Reconciliation Act of 2001 (i.e., December 31, 2010) inapplicable to its estate and gift tax provisions, except for the repeal of the carryover basis. Amends the Internal Revenue Code to:(1) allow a permanent increase (to $5 million) in the estate tax exclusion and a reduction in the maximum estate tax rate to 35%;
(2) increase to $5 million the estate tax deduction for interests in family-owned businesses;
(3) allow an estate tax deduction, up to $2 million, of the value of the principal residence of a decedent;
(4) increase from 50 to 100% the exclusion from gross income of gain from the sale or exchange of qualified small business stock held for more than 5 years;
(5) eliminate gain from the sale of qualified small business stock in calculating the alternative minimum tax (AMT); and
(6) repeal the requirement that federal, state, and local governmental entities withhold 3% of payments due to vendors providing goods and services to such entities.
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Seller Financing and Your Rights – H.R.4173 Revisited | Creative ...
On July 21, 2010, the Wall Street Reform and Consumer Protection Act, H.R 4174 was signed into law by President Barrack Obama. According to the U.S. Chamber of Commerce in Washington, the act will require federal agencies to develop 520 ...
CRS: Estate Tax Legislation in 111th Congress
Title I of HR 4174 addresses the estate and gift tax. Its provisions would take effect January 1, 2011. That means that HR 4174 would allow the estate tax to be repealed for 2010, under the terms of EGTRRA. Effective in 2011, HR 4174 ...
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