Pension Start-Up Credit
This is a nonrefundable income tax credit for 50% of the administrative and retirement-education expenses for any small business (less than 100 employees) that adopts a new qualified defined benefit or defined contribution plan (including a Code Sec. 401(k) plan), SIMPLE plan, or simplified employee pension ("SEP"). The credit is limited to 50% of the first $1,000 of administrative and employee retirement-education expenses in each of the first three years of the plan.
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