HR 4790
109th Congress
House
Taxation
Commerce
Computer software
Depreciation and amortization
Economics and Public Finance
Income tax
Indexing (Economic policy)
Science, Technology, Communications
Small business
Tax deductions
Small Business Expensing Permanency Act of 2006
Introduced: February 16, 2006
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 16, 2006
Referred to the House Committee on Ways and Means.
Feb 16, 2006
Introduced in House
Plain-English summary
Small Business Expensing Permanency Act of 2006 - Amends the Internal Revenue Code to: (1) increase and make permanent the taxpayer election to expense (i.e., deduct all costs in current taxable year) depreciable business property, including computer software; (2) increase the investment threshold amount used to calculate reductions in the amount of such expensing allowance; (3) allow an inflation adjustment to the amount of the expensing allowance and the investment threshold amount; and (4) make permanent the taxpayer's right to revoke an election to expense.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1