3.0.0 4696 2023-01-11T13:26:27Z 2023-01-11T13:26:27Z House H HR 2014-05-21 113 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. GERLACH:H.R. 4696.Congress has the power to enact this legislation pursuantto the following:The Congress enacts this bill pursuant to Clause 1 ofSection 8 of Article I of the United States Constitution.[Page H4784]]]> hswm00 Ways and Means Committee House Standing Referred to 2014-05-21T14:01:15Z EXPIRE Act of 2014 113 2260 S 2014-05-07 Motion to proceed to consideration of measure made in Senate. (consideration: CR S2763-2768) Related bill CRS 2014-05-21 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2014-05-21 Introduced in House IntroReferral Intro-H 9 Library of Congress 2014-05-21 Introduced in House IntroReferral 1000 9 Library of Congress G000549 Rep. Gerlach, Jim [R-PA-6] Jim Gerlach R PA 6 N K000188 Rep. Kind, Ron [D-WI-3] RON KIND D WI 3 2014-05-21 True K000376 Rep. Kelly, Mike [R-PA-3] Mike Kelly R PA 3 2014-05-21 True P000595 Rep. Peters, Gary C. [D-MI-14] Gary Peters D MI 14 2014-05-21 True H001034 Rep. Honda, Michael M. [D-CA-17] MICHAEL HONDA D CA M. 17 2014-05-23 False Taxation Employment taxes Income tax credits Research and development Small business Taxation 00 2014-05-21 Introduced in House 2014-07-14T20:37:32Z Startup Innovation Credit Act of 2014 - Amends the Internal Revenue Code to allow a qualified small business to elect to use a portion of its tax credit for increasing research expenditures as an offset against its payroll tax liability under the Federal Insurance Contributions Act (FICA).

Defines "qualified small business" as a corporation, a partnership, or a person other than a tax-exempt organization that had gross receipts of less than $5 million for the taxable year and that did not have gross receipts for any period preceding the five-taxable-year period ending with such taxable year.

Limits: (1) the number of years a taxpayer may elect to offset payroll taxes under this Act to five, and (2) the annual amount of such offset to $250,000.

]]> Startup Innovation Credit Act of 2014 Display Title Startup Innovation Credit Act of 2014 Official Title as Introduced To amend the Internal Revenue Code of 1986 to provide for startup businesses to use a portion of the research and development credit to offset payroll taxes. Introduced in House IH Short Titles as Introduced Startup Innovation Credit Act of 2014 Introduced in House 2014-05-21T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr4696ih/xml/BILLS-113hr4696ih.xml 2014-05-21 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.