H.R. 1730 · 112th Congress
Small Business Start-up Savings Accounts Act of 2011
- Stage
- In committee
- Sponsor
- Terri Sewell
- Introduced
- 2011-05-04
- Latest action
- 2011-05-04 · Introduced in House
Summary
Small Business Start-up Savings Accounts Act of 2011- Amends the Internal Revenue Code to provide for tax-exempt Small Business Start-up Savings Accounts to pay for trade or business expenses, including the purchase of equipment or facilities, marketing, training, incorporation, and accounting fees. Allows annual contributions to such accounts up to $10,000. Sets forth rules for the tax treatment of contributions to and rollovers from such accounts, similar to rules governing individual retirement accounts (IRAs).