S.193 - Startup Innovation Credit Act of 2013

A bill to amend the Internal Revenue Code of 1986 to provide for startup businesses to use a portion of the research and development credit to offset payroll taxes. view all titles (2)

All Bill Titles

  • Official: A bill to amend the Internal Revenue Code of 1986 to provide for startup businesses to use a portion of the research and development credit to offset payroll taxes. as introduced.
  • Short: Startup Innovation Credit Act of 2013 as introduced.

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  • Today: 2
  • Past Seven Days: 8
  • All-Time: 698
 
Introduced
 
Senate
Passes
 
House
Passes
 
President
Signs
 

 
01/31/13
 
 
 
 
 
 
 

Sponsor

Senator

Chris Coons

D-DE

View Co-Sponsors (7)

Official Summary

Startup Innovation Credit Act of 2013 - Amends the Internal Revenue Code to allow a qualified small business, other than a tax-exempt organization, to use a portion of its tax credit for increasing research expenditures as an offset against its payroll tax liability under the Federal Insura

Official Summary

Startup Innovation Credit Act of 2013 - Amends the Internal Revenue Code to allow a qualified small business, other than a tax-exempt organization, to use a portion of its tax credit for increasing research expenditures as an offset against its payroll tax liability under the Federal Insurance Contributions Act (FICA).  Defines \"qualified small business\" as a corporation, partnership, or S corporation if the gross receipts of such entity for the taxable year are less than $5 million and such entity did not have gross receipts for any period preceding the 5-year period ending with such taxable year. Limits the amount of the payroll tax credit portion to $250,000 in any taxable year.

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Organizations Supporting S.193

  • Connecticut Technology Council
  • Arizona Technology Council
  • Chesapeake Regional Tech Council
  • TechVoice
  • The ASCII Group
  • Technology Councils of North America
  • ...and 16 more. See all.

Organizations Opposing S.193

  • None via MapLight at this time.




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