2.304 -Five-Year Amortization of Start-Up Costs
Item | Description | FY2010 | FY2011 | FY2012 |
---|---|---|---|---|
2.304 | Five-Year Amortization of Start-Up Costs
Taxpayers may elect to treat certain capital costs of starting a business as deferred expenses and amortize them over five years. Without the election, only costs for particular assets could be recovered through depreciation deductions. Other costs would be part of the basis in the business and generally could not be recovered until the business was sold or discontinued. The election to amortize these costs allows for a deferral of tax or an interest-free loan. Origin: IRC, S. 195 Estimate: $0.2 |
0.5 | 0.2 | 0.2 |
Key:
ORIGIN | |
IRC | Federal Internal Revenue Code (26 U.S.C.) |
---|---|
M.G.L. | Massachusetts General Laws |
U.S.C | United States Code |
ESTIMATES | All estimates are in $ millions. |
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