About the bill
H.R. 6756 intends to make it easier and less costly for an entrepreneur to start a new business by providing for more deductions of start-up and organizational costs in the business’s first year and preserving start-up losses and start-up credits by exempting them from the limitations on use that otherwise could apply after an ownership change.
Specifically, the legislation consolidates the rules for start-up expenditures (section 195) and organizational expenditures (sections 248 and 709(b)) into a single provision, allowing the taxpayer to elect to deduct up to ...
Sponsor and status
- Introduced:
Sep 10, 2018
- Status:
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Passed House (Senate next) on Sep 27, 2018
This bill passed in the House on September 27, 2018 and goes to the Senate next for consideration.
- Prognosis:
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20% chance of being enacted according to Skopos Labs (details)
What stakeholders are saying
History
H.R. 6756 is a bill in the United States Congress.
A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.
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