The Small Business Jobs Act of 2010 was enacted on September 27, 2010. The SBJA contains some tax provisions that take effect this year. Other tax provisions will be implemented during the next several years.
Several of the provisions are designed to encourage investment and provide access to capital for businesses. The following is a list of those specific tax provisions now in effect; additional information will be added to this page as it becomes available.
- Sect. 2011: Temporary exclusion of 100% of gain on certain small business stock
- Sect. 2012: General business credits of eligible small businesses for 2010 carried back 5 years
- Sect. 2013: General business credits of eligible small businesses in 2010 not subject to alternative minimum tax
- Sect. 2014: Temporary reduction in S-Corporation built-in gain recognition period
- Sect. 2021: Increased expensing limitations for 2010 and 2011; certain real property treated as Code section 179 property
- Sect. 2022: Additional first-year depreciation for 50% of the basis of certain qualified property
- Sect. 2031: Increase in amount allowed as deduction for start-up expenditures in 2010
- Sect. 2042: Deduction for health insurance costs in computing self-employment taxes in 2010