Reward and Encourage New Business Act of 2013

Reward and Encourage New Business Act of 2013 - Amends the Internal Revenue Code to increase from $5,000 to $10,000 the maximum amount of the tax deduction for business start-up expenditures.

[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3861 Introduced in House (IH)]

113th CONGRESS
  2d Session
                                H. R. 3861

 To amend the Internal Revenue Code of 1986 to increase the deduction 
       for business start-up expenditures from $5,000 to $10,000.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 13, 2014

Ms. Shea-Porter (for herself, Ms. Kuster, and Mr. McNerney) introduced 
  the following bill; which was referred to the Committee on Ways and 
                                 Means

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to increase the deduction 
       for business start-up expenditures from $5,000 to $10,000.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Reward and Encourage New Business 
Act of 2013''.

SEC. 2. INCREASED DEDUCTION FOR BUSINESS START-UP EXPENDITURES.

    (a) In General.--Clause (ii) of section 195(b)(1)(A) of the 
Internal Revenue Code of 1986 is amended by striking ``$5,000'' and 
inserting ``$10,000''.
    (b) Conforming Amendment.--Section 195(b) of such Code is amended 
by striking paragraph (3).
    (c) Effective Date.--The amendment made by this section shall apply 
to amounts paid or incurred in taxable years beginning after the date 
of the enactment of this Act.
                                 <all>