Small Business Tax Relief and Jobs Act of 2017
This bill amends the Internal Revenue Code to allow eligible small businesses an annual tax credit equal to 3.825% of the wages paid to up to three newly hired employees. The wages taken into account with respect to any employee may not exceed $100,000 per year.
An "eligible small business" must have under $1.5 million in gross receipts and no more than 20 full-time employees during the preceding taxable year.
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