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United States · Bill · HR

H.R. 3360 (97th)

A bill to amend the Internal Revenue Code of 1954 to allow certain small businesses to use the cash receipts and disbursements method of accounting without regard to any requirement to use inventories.

referredUnited States· United States Congress· EN

Introduced

30 April 1981

Last action

30 April 1981 · Introduced

Status

Referred to House Committee on Ways and Means.

Sponsors

Rep. Jenkins, Edgar L. [D-GA-9], Rep. Donnelly, Brian J. [D-MA-11], Rep. English, Glenn [D-OK-6], Rep. Bailey, Wendell [R-MO-8], Rep. Lowry, Mike [D-WA-7], Rep. Kramer, Ken [R-CO-5], Rep. Forsythe, Edwin B. [R-NJ-6], Rep. Gunderson, Steve [R-WI-3], Rep. Luken, Thomas A. [D-OH-1], Sen. Brown, Hank [R-CO], Rep. Daub, Hal [R-NE-2], Rep. Holt, Marjorie S. [R-MD-4], Rep. Marriott, David Daniel [R-UT-2], Rep. Corcoran, Tom [R-IL-14], Rep. Horton, Frank J. [R-NY-29], Rep. Howard, James J. [D-NJ-3], Rep. Roth, Toby [R-WI-8], Rep. Lowery, Bill [R-CA-41], Rep. Stump, Bob [R-AZ-3]

Subjects

Taxation

Source updated

7 February 2024

Taxation

Official sourceView documentsShare

Summary

Amends the Internal Revenue Code to allow an election by small businesses which are at least half-owned by active participants in the trade or business and which have average annual gross receipts of $1,000,000 or less for the taxable year and for the three taxable years ending with the year of election to use the cash receipts and disbursements method of accounting without regard to any inventory requirements.

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

Timeline

  1. 30 April 1981

    Introduced

    Referred to House Committee on Ways and Means.

    Source: IntroReferral

  2. 30 April 1981

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 30 April 1981

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

Leesvertaling

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Sponsors

Related records

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Sources

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