H.R.7503: American Innovation Act of 2022

About This Bill

Bill Version

Bill Summary

American Innovation Act of 2022 This bill revises the tax treatment of business start-up or organizational expenditures. Specifically, it allows an election to deduct such expenditures in an amount equal to the lesser of the aggregate amount of such expenditures incurred by an active trade of business, or $20,000, reduced by the amount by which such aggregate amount exceeds $120,000. The remaining amount of such expenditures shall be amortized...

(Source: Library of Congress)

Bill Actions

Date Description
April 14, 2022
Referred to the House Committee on Ways and Means.
April 14, 2022

Introduced in the House by Vern Buchanan (R-Fla.)

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