A bill to amend section 474 of the Internal Revenue Code of 1954 to provide that small businesses with average annual gross receipts not in excess of $10,000,000 may elect to use one inventory pool.

openUnited States· United States Congress· EN

Introduced

30 June 1982

Last action

—

Status

Committee on Finance requested executive comment from OMB; Treasury Department.

Summary

Amends the Internal Revenue Code to increase from $2,000,000 to $10,000,000 the average annual gross receipts for small businesses which elect to use one inventory pool for income tax accounting purposes.

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Documents

1 official file

Introduced in Senate
summary · EN · 30 June 1982
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/97th-congress/senate-bill/2707
Open data entity: https://api.congress.gov/v3/bill/97/s/2707