S. 1262 · 114th Congress
Small Business Start-up Savings Accounts Act of 2015
- Stage
- In committee
- Sponsor
- Mazie Hirono
- Introduced
- 2015-05-07
- Latest action
- 2015-05-07 · Introduced in Senate
Summary
Small Business Start-up Savings Accounts Act of 2015
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).