Small Business Assistance Act of 2020 This bill allows a one-time tax credit to small businesses to cover rent or mortgage payments paid or incurred by such businesses during the first four months of 2020. The credit allowable to a taxpayer may not exceed $50,000 in any taxable year.
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Timeline
Introduced in House
Referred to the House Committee on Ways and Means.
Introduced in House
Referred to the House Committee on Ways and Means.
Taxation
Administrative law and regulatory proceduresBusiness expensesDepartment of the TreasuryFraud offenses and financial crimesIncome tax creditsSmall businessTax administration and collection, taxpayers
Small Business Assistance Act of 2020
USA116th CongressHR-6354| House
| Updated: 3/23/2020
Small Business Assistance Act of 2020 This bill allows a one-time tax credit to small businesses to cover rent or mortgage payments paid or incurred by such businesses during the first four months of 2020. The credit allowable to a taxpayer may not exceed $50,000 in any taxable year.
Administrative law and regulatory proceduresBusiness expensesDepartment of the TreasuryFraud offenses and financial crimesIncome tax creditsSmall businessTax administration and collection, taxpayers