S.2237 - Small Business Jobs and Tax Relief Act112th Congress (2011-2012)
Summary: S.2237 — 112th Congress (2011-2012)
Introduced in Senate (03/26/2012)
Small Business Jobs and Tax Relief Act - Amends the Internal Revenue Code to allow certain employers a tax credit for 10% of the excess (if any) of: (1) the wages and compensation paid to their employees in 2012; over (2) the amount of such wages paid in 2011, up to a maximum amount of $5 million. Extends for one year the 100% bonus depreciation allowance for business assets. Increases the amount of alternative minimum tax (AMT) credits that corporate taxpayers may elect to accelerate in a taxable year in lieu of claiming bonus depreciation.