Sec. 14302. Permanent increase of limitation on deduction for start-upand organizational expenditures
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/bill/116/hr/8352/ih/section-14302A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 195(b)(1)(A)(ii) of the Internal Revenue Code of 1986 is amended— by striking $5,000 and inserting $15,000 , and by striking $50,000 and inserting $150,000 . Section 195(b) of such Code is amended by striking paragraph (3). Section 248(a)(1)(B) of such Code is amended— by striking $5,000 and inserting $10,000 , and by striking $50,000 and inserting $60,000 . The amendments made by this section shall apply to amounts paid or incurred with respect to— in the case of the amendments made by subsection (a), trades or businesses beginning in taxable years beginning after December 31, 2016, and in the case of the amendments made by subsection (b), corporations the business of which begins in taxable years beginning after such date.