United States · Bill · HR
H.R. 8264 (96th)
Small Business Inventory Simplification Act of 1980
Introduced
1 October 1980
Last action
—
Status
Referred to House Committee on Ways and Means.
Sponsors
—
Subjects
Discovery layer
Source updated
2 September 2025
Summary
Small Business Inventory Simplification Act of 1980 - Amends the Internal Revenue Code to allow a qualified small business to elect the cash method of accounting regardless of any requirement to use inventories if: (1) the average annual gross receipts for the three preceding taxable years do not exceed $1,500,000; and (2) such small business was qualified for each of the two preceding taxable years.
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Versions
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Documents
1 official file
Introduced in House
summary · EN · 1 October 1980
Sponsors
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Sources
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- Official source: https://www.congress.gov/bill/96th-congress/house-bill/8264
- Open data entity: https://api.congress.gov/v3/bill/96/hr/8264