To amend the Internal Revenue Code of 1986 to permanently increase the limitations on the deduction for start-up and organizational expenditures.
Promote Startups Act of 2017
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.
Referred to the Subcommittee on Crime, Terrorism, Homeland Security, and Investigations.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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