Sec. 4. Increase in start-up expenditures for community economic assistance zone businesses
98 words·~1 min read·
/bill/115/s/142/is/section-4A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Paragraph
(3)of section 195(b) of the Internal Revenue Code of 1986 is amended to read as follows: In the case of any start-up expenditures made within a community economic assistance zone during the period the designation of such zone is in effect under section 1397G— such expenditures shall be treated separately from other start-up expenditures of the taxpayer for the taxable year, and in determining the deduction under paragraph
(1)with respect to such expenditures within such zone, paragraph (1)(A)(ii) shall be applied— by substituting $30,000 for $5,000 , and by substituting $120,000 for $50,000 . .