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To amend the Internal Revenue Code of 1986 to permanently increase the limitations on the deduction for start-up and organizational expenditures.

USA115th CongressHR-420| House 
| Updated: 1/10/2017
Brenda L. Lawrence

Brenda L. Lawrence

Democratic Representative

Michigan

Cosponsors (2)
Carol Shea-Porter (Democratic)Yvette D. Clarke (Democratic)

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Promote Startups Act of 201 7 This bill amends the Internal Revenue Code to increase the maximum tax deduction for business start-up expenditures from $5,000 to $15,000 and to increase the deduction for the organizational expenditures of corporations from $5,000 to $10,000. The bill also increases the ceilings for such expenditures over which the amount of the tax deduction is reduced.
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Timeline
Jan 10, 2017
Introduced in House
Jan 10, 2017
Referred to the House Committee on Ways and Means.
  • January 10, 2017
    Introduced in House
  • January 10, 2017
    Referred to the House Committee on Ways and Means.

Taxation

Related Bills

  • HR 115-5164: To expand economic opportunities, improve community policing, and promote common-sense gun violence prevention in underserved communities, and for other purposes.
Business investment and capitalCorporate finance and managementIncome tax deductionsSmall business

To amend the Internal Revenue Code of 1986 to permanently increase the limitations on the deduction for start-up and organizational expenditures.

USA115th CongressHR-420| House 
| Updated: 1/10/2017
Promote Startups Act of 201 7 This bill amends the Internal Revenue Code to increase the maximum tax deduction for business start-up expenditures from $5,000 to $15,000 and to increase the deduction for the organizational expenditures of corporations from $5,000 to $10,000. The bill also increases the ceilings for such expenditures over which the amount of the tax deduction is reduced.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jan 10, 2017
Introduced in House
Jan 10, 2017
Referred to the House Committee on Ways and Means.
  • January 10, 2017
    Introduced in House
  • January 10, 2017
    Referred to the House Committee on Ways and Means.
Brenda L. Lawrence

Brenda L. Lawrence

Democratic Representative

Michigan

Cosponsors (2)
Carol Shea-Porter (Democratic)Yvette D. Clarke (Democratic)

Ways and Means Committee

Taxation

Related Bills

  • HR 115-5164: To expand economic opportunities, improve community policing, and promote common-sense gun violence prevention in underserved communities, and for other purposes.
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Business investment and capitalCorporate finance and managementIncome tax deductionsSmall business