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United States · Bill · HR

H.R. 503 (100th)

A bill to amend the Internal Revenue Code of 1986 to allow taxpayers to elect to expense depreciable property which is domestically produced.

referredUnited States· United States Congress· EN

Introduced

7 January 1987

Last action

—

Status

Referred to House Committee on Ways and Means.

Sponsors

—

Subjects

Discovery layer

Source updated

7 February 2024

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Summary

Amends the Internal Revenue Code to allow taxpayers to elect to expense certain depreciable property which is domestically produced. Specifies that property shall not be treated as domestically produced if: (1) such property was completed outside of the United States; or (2) less than 50 percent of the basis of such property is attributable to value added within the United States.

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Documents

1 official file

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Sources

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