H.R. 417 · 112th Congress
Small Business Tax Relief Act of 2011
- Stage
- In committee
- Sponsor
- William Owens
- Introduced
- 2011-01-25
- Latest action
- 2011-01-25 · Introduced in House
Summary
Small Business Tax Relief Act of 2011 - Repeals the provision of the Patient Protection and Affordable Care Act that extends to corporations that are not tax-exempt the requirement to report payments of $600 or more.
Amends the Internal Revenue Code to impose a 5.4% surcharge on individual taxpayers whose modified adjusted gross income exceeds $1 million. Dedicates revenues from such surcharge to federal deficit or debt reduction.