Investment-Led Growth Incentive Act of 1991

Summary

Investment-led Growth Incentives Act of 1991 - Amends the Internal Revenue Code to allow an additional depreciation deduction of 15 percent of the purchase price of qualified manufacturing equipment. Provides for reducing the basis of such equipment for taxpayers who claim the additional deduction. Allows a deduction for gain on investments in new small business stock (seed capital) held for at least five years. Establishes special rules for such investments. Provides for determining the maximum capital gains rate for small business net capital gain or seed capital gain. Treats capital gains on the sale of such stock as a preference item for purposes of the minimum tax. Makes permanent the credit for research activities. Extends the special rules for allocating research and experimental expenditures to the taxpayer's first four taxable years beginning after August 1, 1989, and on or before August 1, 1991. (Current provisions apply to the taxpayer's first two taxable years).

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2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 27 February 1992

  Open at official source

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