Providing Real Opportunities for Growth to Rising Entrepreneurs for Sustained Success (PROGRESS) Act This bill provides for a new angel investor tax credit to promote investment in start-up businesses and a first employee tax credit equal to 25% of employee wages, up to $10,000 in a taxable year. An employer may elect to apply the amount of the first employee tax credit to payroll tax liability.
Administrative law and regulatory proceduresBusiness investment and capitalBusiness recordsDepartment of the TreasuryEmployment taxesFinancial services and investmentsIncome tax creditsInterest, dividends, interest ratesWages and earnings
Providing Real Opportunities for Growth to Rising Entrepreneurs for Sustained Success (PROGRESS) Act
USA116th CongressS-2738| Senate
| Updated: 10/30/2019
Providing Real Opportunities for Growth to Rising Entrepreneurs for Sustained Success (PROGRESS) Act This bill provides for a new angel investor tax credit to promote investment in start-up businesses and a first employee tax credit equal to 25% of employee wages, up to $10,000 in a taxable year. An employer may elect to apply the amount of the first employee tax credit to payroll tax liability.
Administrative law and regulatory proceduresBusiness investment and capitalBusiness recordsDepartment of the TreasuryEmployment taxesFinancial services and investmentsIncome tax creditsInterest, dividends, interest ratesWages and earnings