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S 1085 113th Congress Senate Taxation Accounting and auditing Business investment and capital Contracts and agency Corporate finance and management Disaster relief and insurance Economic performance and conditions Food industry and services Income tax deductions Inflation and prices Public contracts and procurement Retail and wholesale trades Small business Tax administration and collection, taxpayers Tax reform and tax simplification

Small Business Tax Certainty and Growth Act of 2013

Introduced: June 3, 2013 Introduced by: Collins, Susan M. Republican · Maine See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 3, 2013
Read twice and referred to the Committee on Finance.
Jun 3, 2013
Sponsor introductory remarks on measure. (CR S3908)
Jun 3, 2013
Introduced in Senate
 Plain-English summary Congressional Research Service

Small Business Tax Certainty and Growth Act of 2013 - Expresses the sense of the Senate that Congress should undertake comprehensive tax reform to make the tax system fairer and simpler and to promote economic growth.

Amends the Internal Revenue Code to: (1) make permanent the increased tax deductions for business start-up expenditures, organizational expenditures, and organization and syndication fees; (2) allow the cash accounting method for businesses whose gross receipts do not exceed $10 million (currently, $5 million); (3) exempt businesses whose gross receipts do not exceed $10 million from the requirement to use inventories; (4) make permanent the $250,000 allowance for expensing business assets, including computer software; (5) extend for one year the additional depreciation allowance for business assets; and (6) extend through 2014 the 15-year straight-line depreciation allowance for qualified leasehold, restaurant, and retail improvements.

What's happening now June 3, 2013

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1