Section 1 Short title
This Act may be cited as the “Reward and Encourage New Business Act of 2013”.
Reward and Encourage New Business Act of 2013
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.
Sec. 2 Increased deduction for business start-up expenditures
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”.
Conforming amendment— Section 195(b) of such Code is amended by striking paragraph (3).
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.