Organization Cost

Organization Cost means:
the amounts spent to begin a business enterprise, such as legal fees, business filing fees, and franchise acquisition. Expenditures by a corporation related to issuing or selling shares of stock or other securities are capitalized and not deductible. Other organization expenses may be capitalized and amortized ratably over a period of 60 months or more. Likewise, a partnership may elect to amortize organization costs ratably over a period of 60 months or more, starting with the month in which the partnership begins business. Syndication costs are capitalized without the benefit of an amortization election. Former IRC (check if this IRC provision is current here) §§248 and 709.