The costs to organize a corporation (organization costs)are reported as an intangible asset in the balance sheet and amortized to expense over the 5-year life used by the IRS.

Name: The costs to organize a corporation (organization costs)are reported as an intangible asset in the balance sheet and amortized to expense over the 5-year life used by the IRS.
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Organization costs are expensed as incurred according to U.S. GAAP, rather than capitalized and amortized over time.

The Costs to Organize a Corporation (Organization Costs)are Reported as an Intangible