H.R. 3586 · 109th Congress
Small Business Protection Act of 2005
- Stage
- In committee
- Sponsor
- Jon Porter
- Introduced
- 2005-07-28
- Latest action
- 2005-07-28 · Introduced in House
Summary
Small Business Protection Act of 2005 - Amends the Internal Revenue Code to allow certain small business owners a tax deduction for cash contributions to a Small Business Protection Account. Limits the amount of such deduction to 50 percent of a taxpayer's net profits.
Directs the Small Business Administration, through the Small Business Development Center Program, to assist small businesses in establishing and operating Small Business Protection Accounts.