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Main Subject: Taxation

Help Independent Tracks Succeed Act or the HITS Act

This bill permits taxpayers to treat as currently deductible expenses the cost of qualified sound recording productions not exceeding $150,000 in a taxable year. The bill defines qualified sound recording production as certain sound recordings produced and recorded in the United States.

HR1945-117, HR5376-117,

Senate Actions

IntroReferral
Mar. 16 2021	Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S1571-1572)

Library of Congress Actions

IntroReferral
Mar. 16 2021	Introduced in Senate

Senate bill S752-117

HITS Act

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