Source: http://uscode.house.gov/view.xhtml?req=(title:26%20section:195%20edition:prelim)
Timestamp: 2019-06-19 16:49:24
Document Index: 430195891

Matched Legal Cases: ['§ 195', '§195', '§102', '§94', '§902', '§2031', '§902', '§902', '§2031', '§902', '§94', '§102']

[USC03] 26 USC 195: Start-up expenditures
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26 USC 195: Start-up expenditures Text contains those laws in effect on June 18, 2019
§195. Start-up expenditures
If a taxpayer elects the application of this subsection with respect to any start-up expenditures-
(A) the taxpayer shall be allowed a deduction for the taxable year in which the active trade or business begins in an amount equal to the lesser of-
In the case of a taxable year beginning in 2010, paragraph (1)(A)(ii) shall be applied-
(A) by substituting "$10,000" for "$5,000", and
(B) by substituting "$60,000" for "$50,000".
The term "start-up expenditure" means any amount-
(A) paid or incurred in connection with-
The term "start-up expenditure" does not include any amount with respect to which a deduction is allowable under section 163(a), 164, or 174.
(Added Pub. L. 96–605, title I, §102(a), Dec. 28, 1980, 94 Stat. 3522 ; amended Pub. L. 98–369, div. A, title I, §94(a), July 18, 1984, 98 Stat. 614 ; Pub. L. 108–357, title VIII, §902(a), Oct. 22, 2004, 118 Stat. 1651 ; Pub. L. 111–240, title II, §2031(a), Sept. 27, 2010, 124 Stat. 2559 .)
2010-Subsec. (b)(3). Pub. L. 111–240 added par. (3).
2004-Subsec. (b). Pub. L. 108–357, §902(a)(2), substituted "deduct" for "amortize" in heading.
Subsec. (b)(1). Pub. L. 108–357, §902(a)(1), amended heading and text of par. (1) generally. Prior to amendment, text read as follows: "Start-up expenditures may, at the election of the taxpayer, be treated as deferred expenses. Such deferred expenses shall be allowed as a deduction prorated equally over such period of not less than 60 months as may be selected by the taxpayer (beginning with the month in which the active trade or business begins)."
1984-Subsec. (a). Pub. L. 98–369 amended subsec. (a) generally, substituting provisions dealing with capitalization of expenditures for provisions dealing with election to amortize.
Pub. L. 111–240, title II, §2031(b), Sept. 27, 2010, 124 Stat. 2559 , provided that: "The amendment made by this section [amending this section] shall apply to amounts paid or incurred in taxable years beginning after December 31, 2009."
Pub. L. 108–357, title VIII, §902(d), Oct. 22, 2004, 118 Stat. 1652 , provided that: "The amendments made by this section [amending this section and sections 248 and 709 of this title] shall apply to amounts paid or incurred after the date of the enactment of this Act [Oct. 22, 2004]."
Pub. L. 98–369, div. A, title I, §94(c), July 18, 1984, 98 Stat. 615 , provided that: "The amendments made by this section [amending this section] shall apply to taxable years beginning after June 30, 1984."
Pub. L. 96–605, title I, §102(c), Dec. 28, 1980, 94 Stat. 3522 , provided that: "The amendments made by this section [enacting this section] shall apply to amounts paid or incurred after July 29, 1980, in taxable years ending after such date."