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This bill amends the Internal Revenue Code to increase tax deductions for new business start-up and organizational expenditures. It raises the immediate deduction limit from $5,000 to $50,000 and increases the phase-out threshold from $50,000 to $150,000 of cumulative expenditures. The bill consolidates separate provisions for start-up and organizational expenses into a single deduction framework and modifies net operating loss rules to allow separate treatment of losses from these business formation expenses.
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