26 U.S.C. § 173 : US Code - Section 173: Circulation expenditures

Search 26 U.S.C. § 173 : US Code - Section 173: Circulation expenditures

(a) General rule
Notwithstanding section 263, all expenditures (other than
expenditures for the purchase of land or depreciable property or
for the acquisition of circulation through the purchase of any part
of the business of another publisher of a newspaper, magazine, or
other periodical) to establish, maintain, or increase the
circulation of a newspaper, magazine, or other periodical shall be
allowed as a deduction; except that the deduction shall not be
allowed with respect to the portion of such expenditures as, under
regulations prescribed by the Secretary, is chargeable to capital
account if the taxpayer elects, in accordance with such
regulations, to treat such portion as so chargeable. Such election,
if made, must be for the total amount of such portion of the
expenditures which is so chargeable to capital account, and shall
be binding for all subsequent taxable years unless, upon
application by the taxpayer, the Secretary permits a revocation of
such election subject to such conditions as he deems necessary.
(b) Cross reference
For election of 3-year amortization of expenditures allowable
as a deduction under subsection (a), see section 59(e).