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HR 1222 108th Congress House Taxation Commerce Depreciation and amortization Estates (Law) Income tax Intangible property Law Partnerships Small business Tax deductions

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.

Introduced: March 12, 2003 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 12, 2003
Referred to the House Committee on Ways and Means.
Mar 12, 2003
Introduced in House
 Plain-English summary Congressional Research Service

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's happening now March 12, 2003

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1