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HR 4960 109th Congress House

Tax Fairness for Small Business Act of 2006

Official title: To amend the Internal Revenue Code of 1986 to allow 5-year amortization of goodwill and other section 197 intangibles that are acquired from a small business.

Introduced: April 25, 2006 See on congress.gov
Taxation CommerceCorporate mergersDepreciation and amortizationEstates (Law)
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Income taxIntangible propertyLawSmall businessTax deductions
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This bill died when the 109th Congress ended
It never became law before the 109th Congress (2005–2006) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 15, 2006
Referred to the House Committee on Ways and Means.
Mar 15, 2006
Introduced in House
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 Latest action March 15, 2006

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

Tax Fairness for Small Business Act of 2006 - Amends the Internal Revenue Code to allow an accelerated five-year amortization period for goodwill and other business intangibles acquired from certain small businesses (businesses whose average three-year gross receipts do not exceed $5 million) after December 31, 2005. Limits the amount eligible for such amortization to $5 million.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Republican 1
Brown-Waite, Ginny
· Jun 21, 2006
SOUDER, MARK
· May 2, 2006
 R
Sessions, Pete
Texas · Apr 25, 2006
POMEROY, EARL
· Mar 15, 2006
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 4960: Tax Fairness for Small Business Act of 2006. 109th Congress. Open America. https://openamerica.io/bill/109-HR-4960/
MLA
"H.R. 4960: Tax Fairness for Small Business Act of 2006." 109th Congress, 2026, Open America, https://openamerica.io/bill/109-HR-4960/.
Bluebook (legal)
H.R. 4960, 109th Cong. (2026), https://openamerica.io/bill/109-HR-4960/.
Markdown link
[H.R. 4960: Tax Fairness for Small Business Act of 2006](https://openamerica.io/bill/109-HR-4960/)
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