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§ 5

Citation
§ 5 (i)
Parent Document
24 C.F.R. § 5.609

Full Text

381 chars
(i) Net income from the operation of a business or profession. Expenditures for business expansion or amortization of capital indebtedness shall not be used as deductions in determining net income. An allowance for depreciation of assets used in a business or profession may be deducted, based on straight line depreciation, as provided in Internal Revenue Service regulations; and