United States · Bill · S
S. 1738 (98th)
A bill to amend the Internal Revenue Code of 1954 to permit small businesses to reduce the value of excess inventory.
Introduced
3 August 1983
Last action
—
Status
Committee on Finance requested executive comment from OMB, Treasury Department.
Sponsors
—
Subjects
Discovery layer
Source updated
29 June 2021
Summary
Amends the Internal Revenue Code to permit a domestic trade or business whose equity capital does not exceed $25,000,000 to reduce the value of a portion of excess inventory items held for more than 12 months. Permits a taxpayer who is required to change his method of accounting pursuant to Revenue Ruling 80-60 (inventory valuation) and Revenue Procedure 80-5 to effect such a change only for taxable years beginning after December 31, 1982.
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Votes
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Versions
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Documents
1 official file
Introduced in Senate
summary · EN · 3 August 1983
Sponsors
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Related records
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Sources
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- Official source: https://www.congress.gov/bill/98th-congress/senate-bill/1738
- Open data entity: https://api.congress.gov/v3/bill/98/s/1738