American Jobs Creation Act Of 2004
Categories: Regulations, Incorporation, Tax
This act has nothing to do with the founder of Apple (except to the extent that Apple might have benefited from some of these rules). Instead, the Jobs Creation Act was a law passed by Congress and signed by President George W. Bush in (you guessed it) 2004. It provided a number of incentives meant to help business.
It didn't directly create any jobs. Instead, it reduced taxes and tariffs, while restructuring some regulatory items, in an effort to give companies the money and freedom they theoretically needed to produce jobs on their own.
The law also didn't have a single main thrust. Instead, it was a collection of measures, each targeting specific sectors or points of emphasis. It included new rules for international trade, updated rules for S corporations, new tax deductions for manufacturers, some help for farmers, some altered accounting regulations and higher penalties for people trying to shelter income from taxes.
