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.

3.0.0 1371 2023-01-15T06:02:43Z 2023-01-15T06:02:43Z Senate S S 2003-07-08 108 ssfi00 Finance Committee Senate Standing Referred to 2003-07-08T16:39:48Z 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. 108 1222 HR 2003-03-12 Referred to the House Committee on Ways and Means. Identical bill CRS 2003-07-08 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2003-07-08 Introduced in Senate IntroReferral 10000 9 Library of Congress B001066 Sen. Bunning, Jim [R-KY] JIM BUNNING R KY N B000780 Sen. Breaux, John B. [D-LA] JOHN BREAUX D LA BERLINGER 2003-07-08 True Taxation Commerce Depreciation and amortization Estates (Law) Income tax Intangible property Law Partnerships Small business Tax deductions Taxation

00 2003-07-08 Introduced in Senate 2006-10-12T15:42:46Z 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., a business with gross receipts not exceeding $5 million for the three preceding taxable years) after December 31, 2002.

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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. Display Title 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. Official Title as Introduced 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. Introduced in Senate IS Introduced in Senate 2003-07-08T04:00:00Z 2003-07-08 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.