HR 3362 · 110th Congress · Taxation

Tax Fairness for Small Business Act of 2007

Introduced 2007-08-03· Sponsored by Rep. Pomeroy, Earl [D-ND-At Large]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2007-08-03)

Plain Language Summary

[AI summary unavailable — showing source text] Tax Fairness for Small Business Act of 2007- Amends the Internal Revenue Code to allow an accelerated five-year amortization period for goodwill and other business intangibles acquired from certain small businesses (businesses whose average three-year gross receipts do not exceed $5 million) after December 31, 2006. Limits the amount eligible for such amortization to $5 million.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (2)

2 Republicans
Rep. Cantor, Eric [R-VA-7]VA
Rep. Myrick, Sue Wilkins [R-NC-9]NC