A bill to permit a special amortization deduction for intangible assets acquired from eligible small businesses to take account of the actual economic useful life of such assets and to encourage growth in industries for which intangible assets are an important source of revenue.

Summary

Amends the Internal Revenue Code to allow a special amortization tax deduction for up to $5 million of the intangible property acquired from an eligible small business (i.e., gross receipts not exceeding $5 million for the three preceding taxable years) after December 31, 2005.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 28 September 2006

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 28 September 2006

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 28 September 2006 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 28 September 2006

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 28 September 2006

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 28 September 2006

  Open at official source

Sponsors

• Rep. Bunning, Jim [R-KY-4] · R · Sponsor
• Sen. Conrad, Kent [D-ND] · D · Sponsor
• · ssfi00 · Standing

Related records

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