S. 1371 · 108th Congress
A bill to permit a special amortization deduction for intangible assets acquired from eligible small…
Full title
A bill to permit a special amortization deduction for intangible assets acquired from eligible small businesses to take account of the actual economic useful life of such assets and to encourage growth in industries for which intangible assets are an important source of revenue.
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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
BunningSponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Internal Revenue Code to allow a special amortization tax deduction for up to $5 million of the intangible property acquired from an eligible small business (i.e., a business with gross receipts not exceeding $5 million for the three preceding taxable years) after December 31, 2002.
What it does: CRS summary · Introduced in Senate · Jul 8, 2003
Amends the Internal Revenue Code to allow a special amortization tax deduction for up to $5 million of the intangible property acquired from an eligible small business (i.e., a business with gross receipts not exceeding $5 million for the three preceding taxable years) after December 31, 2002.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: A bill to permit a special amortization deduction for intangible assets acquired from eligible small businesses to take account of the actual economic useful life of such assets and to encourage growth in industries for which intangible assets are an important source of revenue.
Latest action (Jul 8, 2003): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Jul 8, 2003
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.