Business Tax Items • Permanently extends the 2001/2003 tax rates for adjusted gross income levels under $ 450,000 ($ 400,000 single); good for small business and home builders, 80 %
of whom are pass - thru entities who pay taxes on the individual
side of the code • Permanently extends the Alternative Minimum patch; again, good for small business owners who are frequently at risk
of paying AMT • Permanently sets the parameters
of the estate tax; positive for family - owned construction firms; codifies the 2010 $ 5 million exemption amount (indexed to inflation) and a 40 percent estate tax rate • Extends present
law section 179 small business expensing through the end
of 2013; offers cash flow and
administrative cost benefits for small firms • Extends the section 45L new energy - efficient home tax credit through the end
of 2013; allows a $ 2,000 tax credit for the construction
of for sale and for - lease energy - efficient homes in buildings with fewer than three floors above grade