2.304 -Five-Year Amortization of Start-Up Costs

Item	Description	FY2011	FY2012	FY2013
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	0.2	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.