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United States · Bill · HR

H.R. 16535 (93rd)

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

referredUnited States· United States Congress· EN

Introduced

22 August 1974

Last action

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Status

Referred to House Committee on Ways and Means.

Sponsors

—

Subjects

Discovery layer

Source updated

1 August 2024

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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)

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Documents

1 official file

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Sources

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