HR 253 · 114th Congress · Taxation
Incentivize Growth Now In Tomorrow's Entrepreneurs Act of 2015
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the House Committee on Ways and Means.(2015-01-09)
Plain Language Summary
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Incentivize Growth Now In Tomorrow's Entrepreneurs Act of 2015 This bill creates tax-exempt small business start-up accounts to pay for the start-up expenses (defined as expenses for investigating the creation or acquisition of an active trade or business) of a business that does not employ more than 50 full-time employees during a taxable year. Cash contributions to such accounts are allowed up to the lesser of $10,000 or the amount of compensation includible in the taxpayer's gross income for the taxable year.…
Summarized by Claude AI · Non-partisan · For informational purposes only