H.R. 6428 · 117th Congress
Brick and Mortar Small Business Tax Credit Act of 2022
- Stage
- In committee
- Sponsor
- Ro Khanna
- Introduced
- 2022-01-19
- Latest action
- 2022-01-19 · Introduced in House
Summary
Brick and Mortar Small Business Tax Credit Act of 2022
This bill allows a new state and local general sales tax credit through 2026 for certain small businesses whose business gross receipts for the taxable year do not exceed $2 million and that were generated by a specified percentage of in-person sales. The amount of the credit is 5% of business gross receipts not exceeding $1 million.
The bill also requires the Small Business Administration to conduct a public awareness campaign to inform small businesses of this tax credit.