To amend the Internal Revenue Code of 1986 to provide a credit for the uncollectible accounts of eligible wholesale distributors.
Providing Liquidity for Uncollectible Sales Act of 2020 or as the PLUS Act of 2020
This bill allows a new tax credit for the uncollectible accounts receivable of an eligible wholesale distributor. The bill defines an eligible wholesale distributor as any person engaged in the trade or business of selling inventory to a food and beverage establishment that ceases to provide on-premises consumption of food and beverage on or after March 25, 2020, pursuant to an order or recommendation of an applicable governmental authority.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
Referred to the Subcommittee on Select Revenue Measures.
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