S 1613
Tax Relief for New Businesses Act
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Bill overview
The Tax Relief for New Businesses Act amends the Internal Revenue Code to expand deductions for new business expenses. It consolidates the deduction for start-up and organizational expenditures, clarifies what constitutes organizational expenditures, and increases the limitations on these deductions. Additionally, it introduces special rules regarding net operating losses for new businesses, allowing for a greater deduction and separate treatment of start-up and organizational losses.
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