which, if expended incident to the creation of a corporation or a partnership having an ascertainable life, would be amortizable over such life. . (3) Conforming amendment Section 195(b)(1) is amended by inserting or organizational after start-up each place it appears. (b) Dollar amounts and amortization period (1) Dollar amounts (A) Increase Clause (ii) of section 195(b)(1)(A) is amended— (i) by striking $5,000 and inserting $50,000 , and (ii) by striking $50,000 and inserting $100,000 . (B) Adjustment for inflation Paragraph (3) of section 195(b) is amended to read as follows: (3) Adjustment for inflation In the case of any taxable year beginning after December 31, 2018, the $50,000 and $100,000 amounts in paragraph (1)(A)(ii) shall each be increased by an amount equal to— (A) such dollar amount, multiplied by (B) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, by substituting calendar year 2017 for calendar year 1992 in subparagraph (B) thereof. If any amount as increased under the preceding sentence is not a multiple of $1,000, such amount shall be rounded to the nearest multiple of $1,000. . (2) Amortization period Subparagraph (B) of section 195(b)(1) is amended by striking 180-month period and inserting 120-month period . (3) Allocation of limit to initial start-up and organizational expenditures Section 195(b) is amended— (A) by striking If in paragraph (1) and inserting Subject to paragraph (4), if , and (B) by adding at the end the following new paragraph: (4) Special rules for aggregation of initial expenditures of corporations and partnerships For purposes of paragraph (1), if, at the time a corporation or partnership first begins the active conduct of one or more trades or businesses, a taxpayer has both start-up expenditures with respect to such trades or businesses and organizational expenditures with respect to such entity— (A) any election under paragraph (1) shall cover both such start-up and organizational expenditures, (B)