Help Entrepreneurs Create American Jobs Act of 2013

Bill: 113-hr-1621
Sponsor: full_name: Rep. Johnson, Henry C. "Hank," Jr. [D-GA-4]
Introduced: 2013-04-18
Policy area: Taxation
Subjects: Business investment and capital

Income tax deductions

Small business
Latest action: action_date: 2013-04-18
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2013-04-18
action_desc: Introduced in House
text: <p>Help Entrepreneurs Create American Jobs Act of 2013 - Amends the Internal Revenue Code to make the increase (from $5,000 to $10,000) in the tax deduction for the start-up expenditures of an active trade or business permanent (currently, limited to taxable years beginning in 2010). </p>

tv_txt: I 113th CONGRESS 1st Session H. R. 1621 IN THE HOUSE OF REPRESENTATIVES April 18, 2013 Mr. Johnson of Georgia (for himself, Ms. Norton , Mr. Conyers , Mr. Lewis , Mr. Moran , Mr. Grijalva , Mr. Clay , Mr. Ellison , Ms. Titus , Mr. McDermott , Ms. Brown of Florida , Mr. Van Hollen , Mr. Peters of Michigan , Mr. Cicilline , Mr. Serrano , Mr. Rangel , Mr. Connolly , Mr. Ryan of Ohio , Ms. Lee of California , Mr. Honda , Ms. Wasserman Schultz , Mr. Hastings of Florida , Mr. Chabot , Ms. Schwartz , Ms. Meng , Mr. Rush , Mr. Bentivolio , Ms. Wilson of Florida , Ms. Fudge , Ms. Sewell of Alabama , Mr. Murphy of Florida , and Ms. Jackson Lee ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to make permanent the 2010 increase in the deduction for start-up expenditures.

1. Short title This Act may be cited as the Help Entrepreneurs Create American Jobs Act of 2013 . 2. Increase in deduction for start-up expenses made permanent (a) In general Clause (ii) of section 195(b)(1)(A) of the Internal Revenue Code of 1986 is amended— (1) by striking $5,000 and inserting $10,000 , and (2) by striking $50,000 and inserting $60,000 . (b) Conforming amendment Subsection (b) of section 195 of such Code is amended by striking paragraph (3). (c) Effective date The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.