S.1613

Tax Relief for New Businesses Act increases tax deductions for new businesses.

The Tax Relief for New Businesses Act amends the Internal Revenue Code to increase the limitations for deductible new business expenditures. It consolidates provisions for start-up and organizational expenditures, allowing businesses to deduct more expenses related to their creation. The bill also introduces special rules for start-up and organizational expenditures, affecting how net operating losses are calculated and applied. These changes apply to expenses incurred in taxable years beginning after December 31, 2025.