American Innovation Act of 2022

Summary

American Innovation Act of 2022 This bill revises the tax treatment of business start-up or organizational expenditures. Specifically, it allows an election to deduct such expenditures in an amount equal to the lesser of the aggregate amount of such expenditures incurred by an active trade of business, or $20,000, reduced by the amount by which such aggregate amount exceeds $120,000. The remaining amount of such expenditures shall be amortized over the 180 month period after the trade or business begins. The bill also revises the tax treatment of partnership syndication fees and start-up net operating losses and tax credits after an ownership change.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 14 April 2022

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• Introduced in House (PDF)

  Introduced in House · EN · 14 April 2022

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• Introduced in House

  summary · EN · 14 April 2022

  Open at official source

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