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Recovery startup business

The term “recovery startup business” means any employer—

(A) which began carrying on any trade or business after February 15, 2020 , and

(B) for which the average annual gross receipts of such employer (as determined under rules similar to the rules under section 448(c)(3)) for the 3-taxable-year period ending with the taxable year which precedes the calendar quarter for which the credit is determined under subsection (a) does not exceed $1,000,000.

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▸rulespec code

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statutes/26/3134/c.yaml

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Rules

section_3111_b_applicable_employment_tax_component

Derived

source: 26 USC 3134(c)(1)(A)

- name: section_3111_b_applicable_employment_tax_component
  kind: derived
  entity: Employer
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 3134(c)(1)(A)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: definition
          source:
            corpus_citation_path: us/statute/26/3134
            excerpt: The taxes imposed under section 3111(b).
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/3111/b#hospital_insurance_employer_tax
            output: hospital_insurance_employer_tax
            hash: sha256:02cb26afb163a49113d15e8cea6adc2f2c8e82e67a2dc46b905950d39c2f198e
  versions:
    - effective_from: '2021-01-01'
      formula: max(0, hospital_insurance_employer_tax)

gross_receipts_decline_threshold

Parameter

source: 26 USC 3134(c)(2)(A)(ii)(II)

- name: gross_receipts_decline_threshold
  kind: parameter
  dtype: Rate
  source: 26 USC 3134(c)(2)(A)(ii)(II)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/26/3134
            excerpt: less than 80 percent
  versions:
    - effective_from: '2021-01-01'
      formula: '0.80'

severely_financially_distressed_gross_receipts_threshold

Parameter

source: 26 USC 3134(c)(3)(C)(ii)

- name: severely_financially_distressed_gross_receipts_threshold
  kind: parameter
  dtype: Rate
  source: 26 USC 3134(c)(3)(C)(ii)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/26/3134
            excerpt: substituting "less than 10 percent" for "less than 80 percent"
  versions:
    - effective_from: '2021-01-01'
      formula: '0.10'

qualified_wages_large_employer_full_time_employee_threshold

Parameter

source: 26 USC 3134(c)(3)(A)

- name: qualified_wages_large_employer_full_time_employee_threshold
  kind: parameter
  dtype: Count
  source: 26 USC 3134(c)(3)(A)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/26/3134
            excerpt: greater than 500
  versions:
    - effective_from: '2021-01-01'
      formula: '500'