A bill to amend section 174 of the Internal Revenue Code of 1954 to insure its uniform application to business products.

Summary

Provides that any expenditure paid or incurred by a taxpayer in connection with his trade or business for the development or improvement of a product shall be treated as a research or experimental expenditure for purposes of a tax deduction under the Internal Revenue Code irrespective of the nature of such product and irrespective of whether the product constitutes the result of research on a literary, historical, or similar project. (Amends 26 U.S.C. 174)

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 27 February 1974

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 27 February 1974

   Introduced

   Introduced in House

   Source: IntroReferral

3. 27 February 1974

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 27 February 1974

  Open at official source

Sponsors

• Rep. Collier, Harold R. [R-IL-6] · R · Sponsor
• Rep. Rostenkowski, Dan [D-IL-8] · D · Cosponsor
• · hswm00 · Standing

Related records

• related to ← A bill to amend section 174 of the Internal Revenue Code of 1954 to insure its uniform application to business products.
• related to ← A bill to amend section 174 of the Internal Revenue Code of 1954 to insure its uniform application to business products.