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.