Tax Law

Manifold Tax Implications in Small Business Jobs Act of 2010

The Small Business Jobs Act of 2010 was signed into law by President Obama on September 27, 2010. The bulk of the bill focuses on providing loans to small businesses, but the bill contains numerous tax provisions as well.

Small Business Jobs Act of 2010: An Analysis by Gerald W. Paulukonis, Esq. provides comprehensive coverage.

Table of Contents

  • § 1.00  Introduction

  • §1.01  Temporary Exclusion of 100 Percent of Gain on Certain Small Business Stock

  • §1.02  5-Year Carryback for General Business Credits of Eligible Small Businesses

  • §1.03  General Business Credit of Eligible Small Business in 2010 Is Not Subject to the Alternative Minimum Tax

  • §1.04  Reduction in Recognition Period for S Corporation Built-In Gains Tax

  • §1.05  Increase in IRC Section 179 Expensing Limit

  • §1.07  One-Year Extension of 50-Percent Additional First-Year Depreciation

  • §1.08  Bonus Depreciation Is Disregarded in Computing Percentage of Completion Under IRC Section 460 for Long-Term Contracts

  • §1.09  Increase in 2010 Start-Up Expenditures Deduction

  • §1.10  Limitation on Penalty for Failure to Disclose Reportable Transactions Based on Resulting Tax Benefits

  • §1.11  Deduction for Health Insurance Costs Allowed in Computing Self-Employment Income for 2010

  • §1.12  Removal of Cellular Telephones and Similar Telecommunications Equipment From IRC Section 280F Listed Property

  • §1.13  Information Reporting Required for Rental Property Expense Payments

  • §1.14  Increase in Information Return Penalties

  • §1.15  Annual IRS Report on Tax Shelter Penalties and Certain Other Enforcement Actions Required

  • §1.16  Application of Continuous Levy to Tax Liabilities of Certain Federal Contractors

  • §1.17  Participants in Government IRC Section 457 Plans May Treat Elective Deferrals as Roth Contributions

  • §1.18  Rollovers Allowed from Elective Deferral Plans to Roth Designated Accounts

  • §1.19  Special Rule for Annuities Received from Only a Portion of a Contract

  • §1.20  Crude Tall oil Ineligible for Cellulosic Biofuel Producer Credit

  • §1.21  Source Rules for Income on Guarantees

  • §1.22 Amount of Payment of 2015 Corporate Estimated Taxes

  • IRC Section Amended Act Cross Reference Table

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