Sponsored By: Senator Marsha Blackburn
Introduced
Expands the year-one deduction for start-up and organizational costs so new businesses can deduct more up front and amortize the rest, while also protecting start-up losses and credits when ownership changes. This package would create a new Section 195 to reorganize those rules and update cross-references across the tax code.
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2 provisions identified: 1 benefits, 1 costs, 0 mixed.
If enacted, you would be able to elect a new startup rule when your trade or business begins in a tax year after December 31, 2025. You would be able to deduct up to $20,000 in start‑up and organizational costs in the first year, but that $20,000 is reduced if total startup costs exceed $120,000. Any costs you do not deduct would be capitalized and spread evenly over 180 months (15 years) starting the month your business begins. Starting in tax years after December 31, 2026, the $20,000 and $120,000 amounts would be indexed for inflation. If you fully liquidate or completely dispose of the business, you would be able to deduct previously nondeductible startup or organizational costs to the extent allowed under the rules for losses (section 165).
If enacted, partnerships and partners would not be allowed to deduct fees paid to promote or sell an interest in a partnership for businesses that begin after December 31, 2025. If a loss corporation has NOLs or unused business credits from a startup-period year, those amounts would be reduced for use after an ownership change by rules that allocate losses and credits to the startup trade or business. The NOL rule generally requires the acquiring company to keep the trade or business running for two years after the change for the adjustment to apply. These protections and limits apply to taxable years ending after January 31, 2025, and do not apply to trades or businesses that began on or before January 31, 2026; there are special exceptions for certain insolvency or bankruptcy cases.
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Marsha Blackburn
TN • R
There are no cosponsors for this bill.
No roll call votes available for this bill.
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Appropriations package that would fund Treasury and IRS while imposing rulemaking limits and detailed DC policy constraints, affecting taxpayers, community lenders, and DC residents.
The federal government runs two closely related conservation-workforce pipelines on public lands: the Youth Conservation Corps YCC and the Public Lands Corps PLC. YCC is a summer employment program fo
The Uruguay Round Agreements Act URAA of 1994 19 U.S.C. §§ 3501–3624 implemented U.S. membership in the World Trade Organization WTO and incorporated the Uruguay Round trade agreements — the broadest
The World Trade Center Health Program is a federally funded health benefits program that provides free medical monitoring and treatment to those who were exposed to the toxic dust, debris, and fumes f
Workers' compensation is the United States' primary workplace injury system — a no-fault insurance program where employees who are injured on the job receive medical coverage and partial wage replacem
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