H.R. 420 · 115th Congress
Promote Startups Act of 2017
- Stage
- In committee
- Sponsor
- Brenda Lawrence
- Introduced
- 2017-01-10
- Latest action
- 2017-01-10 · Introduced in House
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.