118th Congress Taxation
S. 4809: Angel Tax Credit Act
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill allows a new business-related tax credit for 25% of equity investments of $25,000 or more in a domestic corporation or partnership that (1) has its headquarters in the United States, (2) has gross revenue for the taxable year of less than $1 million, (3) employs fewer than 25 full-time employees, (4) has been in existence for less than 7 years as of the date of the investment, (5) has more than 50% of its employees performing substantially all of their services in the United States, and (6) is engaged in a high technology trade or business. The bill limits the allowable amount of such credit to $250,000 in any taxable year and imposes an overall limitation on such credit of $500 million for each of calendar years 2025-2029.
Written by the Congressional Research Service, Library of Congress.
Roll calls
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Amendments
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Other bills by Christopher Murphy
History
- Introduced in the Senate by Christopher Murphy.
Show the full action history (2 actions)
- Introduced in Senate
- Read twice and referred to the Committee on Finance.