Small Business Jobs Act
This bill provides tax incentives for investment in small businesses. Among other provisions, the bill
- increases from $600 to $5,000 (adjusted annually for inflation) the general reporting threshold for services performed by an independent contractor or subcontractor,
- restores reporting requirements for third party network transactions,
- modifies the exclusion of gain from the sale of qualified small business stock,
- increases the ceiling for expensing of depreciable business assets,
- establishes rural opportunity zones, and
- reinstates reporting requirements for qualified opportunity zones and applies such requirements to qualified rural opportunity zones.