Songwriters Tax Simplification Reauthorization Act - Amends the Internal Revenue Code, with respect to the tax deduction for depreciation, to make permanent the taxpayer election to amortize over a five-year period expenses incurred in creating or acquiring a musical composition or any copyright with respect to such composition.
[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[S. 1326 Introduced in Senate (IS)]
113th CONGRESS
1st Session
S. 1326
To amend the Internal Revenue Code of 1986 to extend and make permanent
the rule providing 5-year amortization of expenses incurred in creating
or acquiring music or music copyrights.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
July 18, 2013
Ms. Landrieu (for herself, Mrs. Boxer, Mr. Corker, and Mr. Alexander)
introduced the following bill; which was read twice and referred to the
Committee on Finance
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to extend and make permanent
the rule providing 5-year amortization of expenses incurred in creating
or acquiring music or music copyrights.
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 ``Songwriters Tax Simplification
Reauthorization Act''.
SEC. 2. SPECIAL RULE FOR AMORTIZATION OF MUSICAL WORKS AND COPYRIGHTS
MADE PERMANENT.
(a) In General.--Paragraph (8) of section 167(g) of the Internal
Revenue Code of 1986 is amended by striking subparagraph (E).
(b) Effective Date.--The amendment made by this section shall apply
to taxable years beginning after December 31, 2010.
<all>
Introduced in Senate
Read twice and referred to the Committee on Finance.
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