,,ii  #aai? ,,congress  #a/ ,session    
,s4 #cdei  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,decemb] #aa1 #bjbe,mr4
 ,oss(f 7= himself & ,mrs4 ,hyde-,smi?7 
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to provide a      
payroll tax d$uction = c]ta9 small      
bus9esses1 & = o!r purposes4  #a4 ,%ort 
title ,?is ,act may be cit$ z ! ,support
 ,small ,bus9ess ,gr[? ,act ( #bjbe4    
#b4 ,payroll tax d$uction = small       
bus9esses  7a7 ,9 g5]al ,"p ,,vi (      
sub*apt] ,b ( *apt] #a ( ! ,int]nal     
,rev5ue ,code ( #aihf is am5d$ by ins]t+
 aft] section #agf ! foll[+ new section3
  #agg4 ,payroll d$uction = qualifi$    
small bus9esses  7a7 ,9 g5]al ,9 ! case 
( a qualifi$ small bus9ess1 9 addition  
to ! d$uction all[$ by section          
#afb7;a77#a71 !re %all be all[$ z a     
d$uction an am\nt equal to ! sum ( !    
applicable am\nts det]m9$ "u subsection 
7b77#b7 ) respect to ea* full-"t        

employee ( ! employ] :i* has be5        
designat$ by su* employ] pursuant to    
subsection 7b77#a74  7b7 ,limitations2  
applicable am\nt  7#a7 ,designation (   
employees  7,a7 ,9 g5]al ,= purposes (  
subsection 7a71 ) respect to any taxable
 ye>1 ! full-"t employees designat$ by !
 employ] 7at su* "t & 9 su* mann] z !   
,secret>y may provide7 %all-- 7i7 n     
exce$ ! applicable maximum numb] (      
employees1  7ii7 only include ^? full-"t
 employees ) ! l[e/ wages paid dur+ su* 
taxable ye> relative to all o!r full-"t 
employees ( su* employ]1 &  7iii7 n     
include any highly comp5sat$ employee4  
7,b7 ,applicable maximum numb] ,=       
purposes ( subp>agraph 7,a71 !          
applicable maximum numb] ) respect to   
any qualifi$ small bus9ess is-- 7i7 #aj1
 9 ! case ( a taxable ye> beg9n+ 9      
#bjbf1 #bjbg1 #bjbh1 #bjbi1 or #bjcj1   
7ii7 #h1 9 ! case ( a taxable ye> beg9n+
 9 #bjca1  7iii7 #f1 9 ! case ( a       
taxable ye> beg9n+ 9 #bjcb1  7iv7 #d1 9 
! case ( a taxable ye> beg9n+ 9 #bjcc1 &

  7v7 z]o !reaft]4  7#b7 ,applicable    
am\nt  7,a7 ,9 g5]al ,= purposes (      
subsection 7a71 ) respect to ea* full-"t
 employee designat$ pursuant to p>agraph
 7#a71 ! applicable am\nt %all be an    
am\nt equal to ! less] (-- 7i7 !        
applicable wage limitation1 or  7ii7 #ab
 p]c5t ( ! wages paid to su* employee   
dur+ ! taxable ye>4  7,b7 ,applicable   
wage limitation ,= purposes (           
subp>agraph 7,a71 ! applicable wage     
limitation is-- 7i7 #h1jjj1 ) respect to
 ! numb] ( full-"t employees designat$  
pursuant to p>agraph 7#a7 :i* is equal  
to-- 7,i7 ! applicable maximum numb] )  
respect to ! qualifi$ small bus9ess = ! 
taxable ye>1 r$uc$ by  7,,ii7 #b1  7ii7 
#f1jjj1 ) respect to #a additional su*  
employee1 if applicable1 &  7iii7       
#d1jjj1 ) respect to #a additional su*  
employee1 if applicable4  7c7 ,qualifi$ 
small bus9ess ,= purposes ( ?is section1
 ! t]m qualifi$ small bus9ess means1 )  
respect to a taxable ye>1 a small       
bus9ess conc]n 7z def9$ "u section #c ( 

! ,small ,bus9ess ,act7 :i*-- 7#a7 z ( !
 la/ date ( su* taxable ye>-- 7,a7 has n
 m ?an #ae full-"t employees1 &  7,b7   
meets ! gross receipts te/ ( section    
#ddh7;c71 &  7#b7 c]tifies to !         
,secret>y1 at su* "t & 9 su* mann] z !  
,secret>y %all prescribe1 t su* conc]n  
meets ! requirem5ts ( ?is subsection = !
 taxable ye>4  7d7 ,def9itions ,=       
purposes ( ?is section-- 7#a7 ,full-"t  
employee ,! t]m full-"t employee has !  
mean+ giv5 su* t]m by section           
#dihj;,h7c77#d74  7#b7 ,highly comp5sat$
 employee ,! t]m highly comp5sat$       
employee has ! mean+ giv5 su* t]m by    
section #dad7q74  7e7 ,t]m9ation ,?is   
section %all n apply to taxable ye>s    
beg9n+ aft] ,decemb] #ca1 #bjcc4  4  7b7
 ,cl]ical am5dm5t ,! table ( sections = 
"p ,,vi ( sub*apt] ,b ( *apt] #a ( !    
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by ins]t+ aft] ! item relat+ to section 
#agf ! foll[+ new item3  ,sec4 #agg4    
,payroll d$uction = qualifi$ small      
bus9esses4  4  7c7 ,effective date ,!   

am5dm5ts made by ?is section %all apply 
to taxable ye>s beg9n+ aft] ,decemb]    
#ca1 #bjbe4