Not adopted
This amendment was never taken up, and the bill finished without it. It was never voted on.
Its path through Congress
- Introduced
- Pending Consideration
- Failed
What this amendment would do
This amendment would change section 70105 of the bill.
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It would redefine the combined qualified business income amount as the sum of the taxpayer's qualified business income for each qualified trade or business, up to a limit of $25,000.
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It would add a rule that reduces the combined qualified business income by the amount that the taxpayer's adjusted gross income, which is total income minus certain adjustments, exceeds $200,000 or $400,000 for a joint return.
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It would change the definition of a qualified trade or business to include any trade or business except for performing services as an employee.
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It would modify the definition of W-2 wages to exclude amounts that are not properly allocable to domestic production gross receipts or not included in a return filed with the Social Security Administration by a specific deadline.
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It would direct the Secretary to provide rules for how this section applies during short taxable years or when a taxpayer acquires or disposes of a major portion of a trade or business.
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These changes would apply to taxable years beginning after December 31, 2025.
- 6/29/2025
- Senate amendment submitted
This bill has no cosponsors