Recovery Startup Assistance Act This bill expands the employee retention tax credit to include recovery startup businesses. The bill defines recovery startup business as any employer that began a trade or business after February 15, 2020, had less than 50 full-time employees, and did not have gross receipts in excess of $25,000 in the preceding five-year period.
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Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance.
Introduced in Senate
Read twice and referred to the Committee on Finance.
Taxation
Cardiovascular and respiratory healthEmergency medical services and trauma careEmployment taxesInfectious and parasitic diseasesSmall businessWages and earnings
Recovery Startup Assistance Act
USA117th CongressS-551| Senate
| Updated: 3/2/2021
Recovery Startup Assistance Act This bill expands the employee retention tax credit to include recovery startup businesses. The bill defines recovery startup business as any employer that began a trade or business after February 15, 2020, had less than 50 full-time employees, and did not have gross receipts in excess of $25,000 in the preceding five-year period.
Cardiovascular and respiratory healthEmergency medical services and trauma careEmployment taxesInfectious and parasitic diseasesSmall businessWages and earnings