Charitable Contributions of Food Inventory: Proposals for Change

Description

Early in the 109th Congress, both S. 6, the Family and Community Protection Act of 2005, and S. 94, the Good Samaritan Hunger Relief Tax Incentive Act, have been introduced to encourage gifts of food by businesses for charitable purposes. While current law provides a deduction only to C corporations, these bills would expand the tax break to all business entities. The value of the existing deduction is the corporation’s basis in the donated product plus one half of the amount of appreciation, as long as that amount is less than twice the corporation’s basis in the product.

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15 pages.

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Talley, Louis Alan & Jackson, Pamela J. January 31, 2005.

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This report is part of the collection entitled: Congressional Research Service Reports and was provided by UNT Libraries Government Documents Department to Digital Library, a digital repository hosted by the UNT Libraries. It has been viewed 150 times . More information about this report can be viewed below.

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Description

Early in the 109th Congress, both S. 6, the Family and Community Protection Act of 2005, and S. 94, the Good Samaritan Hunger Relief Tax Incentive Act, have been introduced to encourage gifts of food by businesses for charitable purposes. While current law provides a deduction only to C corporations, these bills would expand the tax break to all business entities. The value of the existing deduction is the corporation’s basis in the donated product plus one half of the amount of appreciation, as long as that amount is less than twice the corporation’s basis in the product.

Physical Description

15 pages.

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Congressional Research Service Reports

The Congressional Research Service (CRS) is the public policy research arm of Congress. This legislative branch agency works exclusively for Members of Congress, their committees and their staff. This collection includes CRS reports from the mid-1970's through the present--covering a variety of topics from agriculture to foreign policy to welfare.

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  • January 31, 2005

Added to The UNT Digital Library

  • Aug. 10, 2006, 2:59 p.m.

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  • Feb. 9, 2017, 2:54 p.m.

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Talley, Louis Alan & Jackson, Pamela J. Charitable Contributions of Food Inventory: Proposals for Change, report, January 31, 2005; Washington D.C.. (digital.library.unt.edu/ark:/67531/metacrs9106/: accessed May 29, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.