Paperwork Relief for Small Business Act of 2005
Last action on Apr 6, 2005Read twice and referred to the Committee on Finance.
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Summary
The Paperwork Relief for Small Business Act of 2005 (S. 720) was designed to reduce the administrative burden on small-scale alcohol producers by simplifying how they pay federal excise taxes. Under this proposal, wineries and breweries that expect to owe $50,000 or less in annual taxes would be allowed to file and pay their taxes quarterly rather than twice a month. This change aimed to help small business owners save time and reduce accounting costs by significantly decreasing the number of tax filings required each year.
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