S.1801 - Small Business Jobs Tax Extenders Act of 2011

A bill to amend the Internal Revenue Code of 1986 to extend certain provisions of the Creating Small Business Jobs Act of 2010, and for other purposes. view all titles (2)

All Bill Titles

  • Official: A bill to amend the Internal Revenue Code of 1986 to extend certain provisions of the Creating Small Business Jobs Act of 2010, and for other purposes. as introduced.
  • Short: Small Business Jobs Tax Extenders Act of 2011 as introduced.

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Introduced
 
Senate
Passes
 
House
Passes
 
President
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11/03/11
 
 
 
 
 
 
 

Official Summary

Small Business Jobs Tax Extenders Act of 2011 - Amends the Internal Revenue Code to extend for one year certain tax expenditures for small businesses, including: (1) the 100% exclusion from gross income of gain from the sale or exchange of qualified small business stock, (2) the five-year c

Official Summary

Small Business Jobs Tax Extenders Act of 2011 - Amends the Internal Revenue Code to extend for one year certain tax expenditures for small businesses, including:
(1) the 100% exclusion from gross income of gain from the sale or exchange of qualified small business stock,
(2) the five-year carryback of tax credit amounts of eligible small businesses,
(3) increased expensing and accelerated depreciation allowances,
(4) the increased tax deduction for business start-up expenses, and
(5) the tax deduction allowed for the health insurance costs of self-employed individuals. Exempts from the requirement to purchase health insurance under the Patient Protection and Affordable Care Act an indivdual whose required contribution (determined on an annual basis) for coverage for a month exceeds 5% (currently 8%) of such individual's household income for the taxable year.

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