Support Our Start-Ups Act
United States116th CongressS-2841Senate
Updated: Nov 13, 2019
Summary
Support Our Start-Ups Act This bill amends the Internal Revenue Code to extend the tax deduction for new business expenditures to organizational expenditures, generally defined as expenditures incident to the creation of a corporation or a partnership. The bill also increases the maximum deduction amount for start-up and organizational expenditures from $5,000 to $20,000 and increases from $50,000 to $120,000 the threshold amount after which the maximum deduction amount for such expenditures is reduced.
Bill texts
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Timeline
Read twice and referred to the Committee on Finance.
Senate
Introduced in Senate
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