HITS Act
USA117th CongressS-752| Senate
| Updated: 3/16/2021
Dianne Feinstein
Democratic Senator
California
Cosponsors (1)
Finance Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Help Independent Tracks Succeed Act or the HITS Act This bill permits taxpayers to treat as currently deductible expenses the cost of qualified sound recording productions not exceeding $150,000 in a taxable year. The bill defines qualified sound recording production as certain sound recordings produced and recorded in the United States.
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Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S1571-1572)
Taxation
Business expensesIncome tax deductionsMusic
HITS Act
USA117th CongressS-752| Senate
| Updated: 3/16/2021
Help Independent Tracks Succeed Act or the HITS Act This bill permits taxpayers to treat as currently deductible expenses the cost of qualified sound recording productions not exceeding $150,000 in a taxable year. The bill defines qualified sound recording production as certain sound recordings produced and recorded in the United States.
View Full TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S1571-1572)
Dianne Feinstein
Democratic Senator
California
Cosponsors (1)
Finance Committee
Taxation
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Business expensesIncome tax deductionsMusic