S 2237
113th Congress
Senate
Taxation
Business investment and capital
Income tax deductions
Small business
Farm and Small Business Expensing Tax Relief Act
Introduced: April 10, 2014
Introduced by:
Hoeven, John
Republican
· North Dakota
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 10, 2014
Read twice and referred to the Committee on Finance.
Apr 10, 2014
Introduced in Senate
Plain-English summary
Farm and Small Business Expensing Tax Relief Act - Amends the Internal Revenue Code to allow a business taxpayer to expense up to $5,000 of the costs incurred to acquire or produce any item of tangible property if: (1) the taxpayer's average annual gross receipts during the preceding three taxable years do not exceed $10 million, and (2) the taxpayer has in effect written accounting procedures as may be prescribed by the Secretary of the Treasury.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1