HR 1195
106th Congress
House
Taxation
Agriculture and Food
Business income tax
Commerce
Costs
Expense accounts
Income tax
Partnerships
Recreation
Small business
Sports and Recreation
Tax deductions
To amend the Internal Revenue Code of 1986 to increase the deduction for meal and entertainment expenses of small businesses.
Introduced: March 18, 1999
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 18, 1999
Referred to the House Committee on Ways and Means.
Mar 18, 1999
Introduced in House
Plain-English summary
Amends the Internal Revenue Code to allow small businesses (corporations, or S corporations, partnerships, or sole proprietorships meeting C corporation requirements) an increased deduction for meal and entertainment expenses.
Waives the current limitation of such deduction to 50 percent of such expenses. Applies to small businesses the applicable percentage currently restricted to certain individuals subject to the hours of service limitations of the Department of Transportation, which ranges from 55 percent for taxable years beginning in 1998 or 1999 up to 80 percent for taxable years beginning in 2008 or thereafter.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1