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118-hr-10429Committee
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Brick and Mortar Small Business Tax Credit Act of 2024

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Summary

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This bill establishes a federal tax credit for small businesses with physical retail locations. Eligible businesses with gross receipts up to $2 million and deriving more than 50 percent of receipts from in-person sales may claim a credit equal to 5 percent of gross receipts up to $1 million, phasing out above that threshold. The credit expires after December 31, 2028, and the bill requires the Small Business Administration to conduct a public awareness campaign about the credit.

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Bill details

Congress
118
Bill type
hr
Introduced
December 16, 2024
Sponsor
Not yet available
Last action
December 16, 2024— Referred to the House Committee on Ways and Means.

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