House Bill 420
115th Congress(2017-2018)
Promote Startups Act of 2017
Introduced
Introduced in House on Jan 10, 2017
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
420
Congress
115
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No House votes have been held for this bill.
Summary
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.
January 10, 2017
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01/10/2017
Referred to the House Committee on Ways and Means.
01/10/2017
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:34:27 PM