H.R. 5366 · 108th Congress
To amend the Internal Revenue Code of 1986 to provide employers a double deduction of certain employee training expenses.
- Stage
- In committee
- Sponsor
- Mark Foley
- Introduced
- 2004-11-16
- Latest action
- 2004-11-16 · Introduced in House
Summary
Amends the Internal Revenue Code to allow a special tax deduction for employee training expenses that are: (1) also deductible as an ordinary and necessary business expense; (2) incurred under the National Apprenticeship Act or under a recognized State program; and (3) at least one percent of the total yearly wages paid by the employer claiming a deduction.