Top Legislation - View All
Also tagged in: Business, Capital investments, Excise tax, Finance, Income tax, Individual retirement accounts, Loans, Partnerships, Pensions, Small business, Tax exclusion, Tax penalties, Taxation
Latest Action: 01/04/2007 - Referred to the House Committee on Ways and Means. Bill TextTo amend the Internal Revenue Code of 1986 to allow loans from individual retirement plans for qualified small business capital assets. 1/4/2007--Introduced. Amends the Internal Revenue Code to exempt from the penalty tax for prohibited transactions loans from an individual retirement plan to acquire certain small business capital assets. Requires such loans to be repaid within five years.
Also tagged in: Business, Capital gains tax, Corporate mergers, Depreciation and amortization, Employee health benefits, Estates (Law), Finance, Flexible benefit plans, Government contractors, Group insurance, Health policy, Home offices, Income tax, Intangible property, Labor, Law, Life insurance, Long-term care insurance, Medical care, Public contracts, Self-employed, Small business, Stockholders, Tax administration, Tax deductions, Tax exclusion, Taxation, Withholding tax
Latest Action: 01/04/2007 - Referred to the House Committee on Ways and Means. Bill TextTo amend the Internal Revenue Code of 1986 to provide tax incentives for small businesses, and for other purposes. 1/4/2007--Introduced. Small Business Tax Fairness and Simplification Act of 2007 - Amends the Internal Revenue Code to: (1) allow self-employed individuals to participate in cafeteria pension plans; (2) allow long-term care insurance under cafeteria plans and flexible spending arrangements; (3) allow accelerated amortization of certain intangible assets (e.g., good will) acquired from a small business; (4) increase the tax exclusion of gain from the sale of certain small business stock; (5) provide a $2,500 standard tax deduction for home business expenses; (6) permit certain small businesses to elect a taxable year ending in a month from April to November; (7) increase the allowable number of S corporation shareholders; and (8) exempt certain small businesses from withholding of tax requirements for payments made by government entities.
Also tagged in: Annuities, Bonds, Budgets, Children, Civil service retirement, Cost of living adjustments, Families, Finance, Gift tax, Government employees, Government securities, Government trust funds, Grandparents, Individual retirement accounts, Inheritance tax, Investments, Law, Mutual funds, Old age, survivors and disability insurance, Parents, Pensions, Social security, Social security finance, Social security numbers, Tax exemption, Tax refunds, Taxation, Trusts and trustees
Latest Action: 01/18/2007 - Referred to the Subcommittee on Social Security. Bill TextTo amend the Social Security Act to provide each American child with a KidSave Account, and for other purposes. 1/5/2007--Introduced. Social Security KidSave Accounts Act - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to create a new part B (KidSave Accounts). Directs the Commissioner of Social Security to establish in the name of each individual born on or after January 1, 2008, an individual retirement account in the Thrift Savings Fund known as a KidSave Account. Requires such Account to be treated in the same manner as an account maintained by a federal employee under the Federal Employees Retirement System (FERS) (into which contributions by or on behalf of the individual are deposited into one or more designated investment funds).Requires the Secretary of the Treasury to transfer from the Federal Old-Age and Survivors Insurance Trust Fund to each account holder's KidSave Account: (1) $2,000, on the date such [...] show full description
Also tagged in: Accounting, Administrative procedure, Administrative remedies, Bank employees, Budgets, Business, Capital gains tax, Checks, Citizenship, Compensation for victims of crime, Congress, Congressional reporting requirements, Construction costs, Contracts, Corporation taxes, Cost of living adjustments, Criminal investigation, Criminal justice, Debt, Department of the Treasury, Depreciation and amortization, Disabled, Due process of law, Economic policy, Employment, Employment agencies, Enterprise zones, Executive compensation, Executive departments, Executive reorganization, Expatriation, Finance, Fines (Penalties), Food, Foreign corporations, Fraud, Gifts, Governmental investigations, Immigration, Income tax, Indexing (Economic policy), Insurance, Interest, Internal Revenue Service (IRS), Inventories, Investments, Job training, Labor, Law, Leases, Legislation, Pensions, Professions, Profit, Punitive damages, Restaurants, Retail trade, Securities, Small business, Stockholders, Subsidiary corporations, Surety and fidelity, Tax administration, Tax credits, Tax deductions, Tax deferral, Tax exclusion, Tax liens, Tax penalties, Tax refunds, Tax returns, Tax-deferred compensation plans, Taxation, Taxation of foreign income, Trade, Trusts and trustees, Urban affairs, User charges, Veterans, Veterans' employment, Visas, Wages, Welfare, Welfare work participation, Whistle blowing, Withholding tax
Latest Action: 01/22/2007 - Committee on Finance. Original measure reported to Senate by Senator Baucus. With written report No. 110-1. Additional views filed. Bill TextAn original bill to amend the Internal Revenue Code of 1986 to provide additional tax incentives to employers and employees of small businesses, and for other purposes. 1/22/2007--Reported to Senate without amendment, 1st committee reporting. (There is 1 other summary) (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) Small Business and Work Opportunity Act of 2007 - Title I: Small Business Tax Relief Provisions - Subtitle A: General Provisions - (Sec. 101) Amends the Internal Revenue Code to extend through 2010 the increased expensing allowance for small business assets. (Sec. 102) Extends through March 2008 accelerated depreciation of qualified leasehold and restaurant improvement property. Revises the definition of "qualified restaurant property" to eliminate the requirement that improvements to restaurant property must be [...] show full description
Also tagged in: Agriculture, Capital gains tax, Finance, Income tax, Infrastructure, Irrigation, Land transfers, Natural resources, Reservoirs, Tax exclusion, Tax-exempt organizations, Taxation, Water resources
Latest Action: 02/06/2007 - Read twice and referred to the Committee on Finance. Bill TextA bill to amend the Internal Revenue Code of 1986 to allow section 1031 treatment for exchanges involving certain mutual ditch, reservoir, or irrigation company stock. 2/6/2007--Introduced. Amends the Internal Revenue Code to allow tax-free exchanges of shares in certain mutual ditch, reservoir, or irrigation companies.
Latest Action: 01/19/2007 - Referred to the House Committee on Ways and Means. Bill TextTo amend the Internal Revenue Code of 1986 to allow a credit against income tax for qualified equity investments in certain small businesses. 1/19/2007--Introduced. Access to Capital for Entrepreneurs Act of 2007 - Amends the Internal Revenue Code to allow certain investors a business tax credit for 25% of equity investments made in small businesses, up to an annual limit of $500,000. Terminates such credit after 2011.
Also tagged in: Administrative procedure, Auditing, Broadband, Business, Cable television, Capital gains tax, Congress, Congressional investigations, Congressional reporting requirements, Corporation taxes, Department of the Treasury, Direct broadcast satellites, Enterprise zones, Executive departments, Finance, Income tax, Investment tax credit, Law, Minorities, Minority business enterprises, Partnerships, Radio stations, Small business, Small business investment companies, Tax deferral, Tax exclusion, Taxation, Telecommunication, Telecommunication industry, Telephone, Television stations, Urban affairs, Wireless communication
Latest Action: 01/22/2007 - Referred to the House Committee on Ways and Means. Bill TextTo amend the Internal Revenue Code of 1986 to provide for a deferral of tax on gain from the sale of telecommunications businesses in specific circumstances or a tax credit and other incentives to promote diversity of ownership in telecommunications businesses. 1/22/2007--Introduced. Telecommunications Ownership Diversification Act of 2007 - Amends the Internal Revenue Code to allow a taxpayer election to exclude from gross income a portion of the gain from the sale of the assets of a telecommunications business to an eligible purchaser. Defines "eligible purchaser" as: (1) any economically and socially disadvantaged business as designated by the Secretary of the Treasury using specified criteria; or (2) a corporation or partnership which, following the sale of a telecommunications business, owns substantially all of the assets of such business and is at least five percent owned by the Telecommunications Development Fund established under the Communications Act of [...] show full description
Also tagged in: Business, Capital gains tax, Economic policy, Finance, Income tax, Indexing (Economic policy), Inflation, Losses, Mutual funds, Partnerships, Real estate investment trusts, Small business, Taxation, Valuation
Latest Action: 03/15/2007 - Sponsor introductory remarks on measure. (CR S3203-3204) Bill TextA bill to amend the Internal Revenue Code of 1986 to provide for the indexing of certain assets for purposes of determining gain or loss. 3/15/2007--Introduced. Capital Gains Inflation Relief Act of 2007 - Amends the Internal Revenue Code to allow an inflation adjustment based upon the gross domestic product deflator to the adjusted basis of certain assets (including C corporation common stock and tangible property used in a trade or business) held by a taxpayer for more than three years for purposes of determining gain or loss on the sale or other disposition of such assets. Sets forth rules for applying such inflation adjustment to short sales, regulated investment companies and real estate investment trusts, partnerships and other pass-thru entities, and dispositions of assets between related persons.
Also tagged in: Administrative procedure, Affiliated corporations, Business, Corporate mergers, Criminal justice, Data banks, Executive departments, Foreign corporations, Government contractors, Government information, Government paperwork, International affairs, Law, Office of Management and Budget, Partnerships, Public contracts, State-sponsored terrorism, Subsidiary corporations, Technology, Terrorism, Terrorists, Trade
Latest Action: 03/28/2007 - Read twice and referred to the Committee on Homeland Security and Governmental Affairs. Bill TextA bill to make ineligible for Federal contract awards any expatriated corporations and any companies that do business with, or own foreign subsidiaries that do business with, state sponsors of terrorism or foreign terrorist organizations. 3/28/2007--Introduced. Restoring Integrity in Contracting Act of 2007 - Disqualifies an acquiring corporation, or any subsidiary of such a corporation, that enters into a corporate expatriation transaction from federal contract awards for five years. Authorizes the Administrator for Federal Procurement Policy to extend the period of ineligibility as a penalty for failure to disclose such a transaction.Authorizes a presidential waiver in the interest of national security. Disqualifies any entity doing business with, or having a parent or subsidiary doing business with, a state sponsor of terrorism or foreign terrorist organization from federal contract awards for at least five years. Exempts entities selling food, agricultural [...] show full description
Also tagged in: Administrative fees, Aged, Aliens, Annuities, Bonds, Budget deficits, Budget reconciliation, Budget resolutions, Budget surpluses, Budgets, Caregivers, Children, Civil service retirement, Congress, Congressional reporting requirements, Congressional voting, Cost of living adjustments, Death, Disabled, Divorce, Earnings, Economic policy, Estate tax, Estates (Law), Executive departments, Executive reorganization, Families, Finance, Financial statements, Government employees, Government information, Government paperwork, Government publicity, Government trust funds, House rules and procedure, Indexing (Economic policy), Investments, Labor, Law, Legislation, Legislative amendments, Legislative resolutions, Marriage, Married people, Mutual funds, Old age, survivors and disability insurance, Older workers, Pensions, Retirement income, Senate rules and procedure, Social security, Social Security Administration, Social security beneficiaries, Social security eligibility, Social security finance, Social security taxes, Survivors' benefits, Tax credits, Tax exemption, Tax refunds, Taxation, Widowers, Widows, Women
Latest Action: 03/13/2007 - Referred to the Subcommittee on Social Security. Bill TextTo amend the Social Security Act and the Internal Revenue Code of 1986 to preserve and strengthen the Social Security Program through the creation of personal Social Security guarantee accounts ensuring full benefits for all workers and their families, restoring long-term Social Security solvency, to make certain benefit improvements, and for other purposes. 2/15/2007--Introduced. Social Security Guarantee Plus Act of 2007 - Amends the Internal Revenue Code (IRC) and title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act (SSA) to establish a Social Security Guarantee Program, to be administered by a Social Security Guarantee Board established within the Social Security Administration. Authorizes any individual age 18 with a Social Security number to elect to enroll as a covered individual and receive in the Social Security guarantee account established for him or her by the Board a calendar year payment of Social Security guarantee refundable [...] show full description
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Latest Legislation - View All
Also tagged in: Agriculture, Agriculture in foreign trade, Air pollution, Alabama, Alcohol tax, Alcoholic beverages, Alternative energy sources, American Samoa, Biomass energy, Bonds, Books, Budgets, Building construction, Business, Carbon dioxide, Cellulose, Charitable contributions, Children, Climate change, Coal, Cogeneration of electric power and heat, College costs, Communications, Computers, Corporation taxes, Criminal justice, Department of the Treasury, Depreciation and amortization, Depressed areas, Diesel motor, District of Columbia, Dividends, Economic development, Economic policy, Education, Educational technology, Electric appliances, Electric power plants, Electric power production, Electric vehicles, Elementary and secondary education, Emergency management, Employee training, Energy, Energy conservation, Energy efficiency, Energy facilities, Environmental protection, Excise tax, Executive departments, Exports, Finance, Fines (Penalties), Food, Foreign corporations, Foreign policy, Foreign tax credit, Fuel cells, Geothermal resources, Government trust funds, Governmental investigations, Greenhouse gases, Higher education, Housing, Humanities, Hurricanes, Hydroelectric power, Incineration, Income tax, Indian economic development, Individual retirement accounts, Interest, Internal Revenue Service (IRS), International affairs, Inventories, Investment tax credit, Irrigation, Job training, Labor, Landfills, Law, Lawyers, Leases, Legal fees, Legal services, Liability for environmental damages, Local taxation, Losses, Louisiana, Marine resources, Methane, Mine safety, Minimum tax, Minorities, Minority employment, Mississippi, Motion pictures, Mutual funds, Natural resources, New York City, Ocean energy resources, Oil pollution, Pensions, Property tax, Puerto Rico, Railroad engineering, Refuse as fuel, Rescue work, Research and development tax credit, Restaurants, Retail trade, Rural affairs, Rural education, Sales tax, School buildings, Science policy, Service stations, Small business, Solar energy, Solid wastes, Sports, Sports facilities, State and local government, State taxation, Subsidiary corporations, Tariff, Tax administration, Tax credits, Tax deductions, Tax exclusion, Tax exemption, Tax penalties, Tax preparers, Tax rates, Tax refunds, Tax returns, Tax-exempt organizations, Taxation, Taxation of foreign income, Teacher education, Technology, Television industry, Terrorism, Trade, Transportation, Undercover operations, Urban affairs, Urban economic development, Virgin Islands, Wages, Water resources, Wind power, Wool
Latest Action: 06/12/2008 - Sponsor introductory remarks on measure. (CR S5595-5597) Bill TextA bill to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. 6/12/2008--Introduced. Energy Independence and Tax Relief Act of 2008 - Amends the Internal Revenue Code to extend various provisions relating to energy production and conservation and to individual and business-related activities.Extends through 2009 the tax credit for producing electricity from wind facilities and through 2011 for closed and open-loop biomass, geothermal, small irrigation, hydropower, landfill gas, and trash combustion facilities. Includes marine and hydrokinetic renewable energy as a renewable resource for purposes of such tax credit. Extends through 2014: (1) the energy tax credits for solar energy, fuel cell, and microturbine property; and (2) the residential energy efficient property tax credit. Allows a new investment tax credit for combined heat and power system property.Provides funding for new clean renewable energy [...] show full description
Also tagged in: Agriculture, Air conditioning, Alcohol tax, Alcoholic beverages, Alternative energy sources, American Samoa, Biomass energy, Books, Business, Capital gains tax, Charitable contributions, College costs, Corporation taxes, Criminal justice, Department of the Treasury, Depletion allowances, Depreciation and amortization, Depressed areas, Diesel motor, Economic development, Economic policy, Education, Education of the disadvantaged, Electric appliances, Electric power transmission, Electric utilities, Elementary and secondary education, Emergency management, Energy, Energy conservation, Energy efficiency, Enterprise zones, Environmental protection, Executive departments, Finance, Food, Foreign corporations, Fuel cells, Health insurance, Health policy, Heat pumps, Heating, Higher education, Holding companies, Housing, Humanities, Hurricanes, Incineration, Income tax, Indian economic development, Insurance, Internal Revenue Service (IRS), Inventories, Irrigation, Labor, Leases, Local taxation, Medical care, Military pay, Mine safety, Minimum tax, Minorities, Minority employment, Motion pictures, Mutual funds, Ocean energy resources, Pensions, Puerto Rico, Railroad engineering, Refrigeration, Refuse as fuel, Rescue work, Research and development tax credit, Restaurants, Rural affairs, Sales tax, School buildings, Science policy, Small business, Social security, Social security taxes, Solar energy, Solid wastes, Sports, State and local government, State taxation, Subsidiary corporations, Tax administration, Tax credits, Tax deductions, Tax exclusion, Tax exemption, Tax returns, Tax-exempt organizations, Taxation, Taxation of foreign income, Teachers, Television industry, Terrorism, Tidal power, Trade, Transportation, Undercover operations, Veterans, Virgin Islands, Water conservation, Water resources
Latest Action: 06/09/2008 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 771. Bill TextA bill to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. 6/6/2008--Introduced. Alternative Minimum Tax and Extenders Tax Relief Act of 2008 - Amends the Internal Revenue Code to extend expiring provisions relating to the alternative minimum tax, individual and business taxpayers, energy conservation, and tax administration. Extends through 2008 for individual taxpayers: (1) the offset of nonrefundable personal tax credits against regular and alternative minimum tax (AMT) liabilities; and (2) the increased AMT exemption amounts. Extends through 2009: (1) the election to deduct state and local sales taxes in lieu of state and local income taxes; (2) the tax deductions for qualified tuition and related expenses and for certain expenses of elementary and secondary school teachers; (3) tax-free distributions from individual retirement accounts (IRAs) for charitable purposes; and (4) tax rules for treatment of [...] show full description
Also tagged in: Air pollution, Alabama, Alcoholic beverages, Alternative energy sources, Armed forces, Biomass energy, Bonds, Books, Building construction, Business, Capital gains tax, Carbon dioxide, Cellulose, Charitable contributions, Children, Civil rights, Clean coal technology, Climate change, Coal, Coal gasification, College costs, Computers, Congress, Congressional reporting requirements, Construction costs, Corporation taxes, Criminal justice, Curricula, Defense policy, Depreciation and amortization, Diesel motor, Discrimination in insurance, Discrimination in medical care, District of Columbia, Earned income tax credit, Economic policy, Education, Education of the disadvantaged, Educational technology, Electric appliances, Electric vehicles, Elementary and secondary education, Emergency management, Employee stock options, Energy, Energy conservation, Energy efficiency, Energy industries, Enterprise zones, Environmental protection, Excise tax, Finance, Food, Foreign corporations, Foreign policy, Foreign tax credit, Fuel cells, Geothermal resources, Governmental investigations, Greenhouse gases, Health insurance, Health policy, Higher education, Home repair and improvement, Housing, Humanities, Hurricanes, Hydroelectric plants, Hydroelectric power, Incineration, Income tax, Indians, Individual retirement accounts, Interest, International affairs, Inventories, Investment tax credit, Irrigation, Labor, Landfills, Law, Leases, Legal fees, Legal services, Local taxation, Losses, Louisiana, Marine resources, Medical care, Medicine, Mental health services, Methane, Military pay, Minimum tax, Minorities, Minority employment, Mississippi, Mortgages, Motion pictures, Mutual funds, Natural resources, New York City, New York State, Ocean energy resources, Pensions, Property tax, Public-private partnerships, Puerto Rico, Railroad engineering, Refuse as fuel, Research and development tax credit, Restaurants, Science policy, Service stations, Small business, Solar energy, Solid wastes, Sports, Sports facilities, State and local government, State taxation, Subsidiary corporations, Tax administration, Tax credits, Tax deductions, Tax evasion, Tax exclusion, Tax exemption, Tax penalties, Tax preparers, Tax rates, Tax refunds, Tax returns, Tax-exempt organizations, Taxation, Teachers, Teaching materials, Technology, Telecommunication, Television industry, Terrorism, Trade, Transportation, Undercover operations, Urban affairs, Urban economic development, Veterans, Veterans' benefits, Water resources, Welfare
Latest Action: 07/29/2008 - Motion by Senator Reid to reconsider the vote by which cloture was not invoked on the motion to proceed to the measure [Record Vote Number 150] agreed to in Senate by Unanimous Consent. (consideration: CR S7594) Bill TextTo amend the Internal Revenue Code of 1986 to provide incentives for energy production and conservation, to extend certain expiring provisions, to provide individual income tax relief, and for other purposes. 5/21/2008--Passed House amended. (There are 2 other summaries) (This measure has not been amended since it was reported to the House on May 20, 2008. The summary of that version is repeated here.)Renewable Energy and Job Creation Act of 2008 -Amends the Internal Revenue Code to provide tax incentives for energy production and conservation, to extend expiring tax provisions, and to extend tax benefits to individual and business taxpayers. Title I: Energy Tax Incentives - Subtitle A: Energy Production Incentives - Part I: Renewable Energy Incentives - (Sec. 101) Extends: (1) through 2009 the tax credit for producing electricity from qualified wind facilities; and (2) through 2011 the tax credits for producing electricity [...] show full description
Also tagged in: Alcohol tax, Alcoholic beverages, Alternative energy sources, American Samoa, Books, Business, Capital gains tax, Charitable contributions, Coal, College costs, Corporation taxes, Criminal justice, Department of the Treasury, Depreciation and amortization, Depressed areas, Earned income tax credit, Economic development, Economic policy, Education, Education of the disadvantaged, Electric appliances, Elementary and secondary education, Emergency management, Energy, Energy conservation, Energy efficiency, Enterprise zones, Environmental protection, Executive departments, Finance, Food, Foreign corporations, Fuel cells, Health insurance, Health policy, Higher education, Holding companies, Housing, Humanities, Hurricanes, Income tax, Indian economic development, Individual retirement accounts, Insurance, Internal Revenue Service (IRS), Inventories, Labor, Leases, Local taxation, Medical care, Mental health services, Military pay, Mine safety, Minimum tax, Minorities, Minority employment, Mortgages, Motion pictures, Mutual funds, Pensions, Puerto Rico, Railroad engineering, Rescue work, Research and development tax credit, Restaurants, Rural affairs, Sales tax, School buildings, Science policy, Small business, Social security, Social security taxes, Solar energy, Sports, State and local government, State taxation, Subsidiary corporations, Tax administration, Tax credits, Tax deductions, Tax exclusion, Tax exemption, Tax returns, Tax-exempt organizations, Taxation, Taxation of foreign income, Teachers, Television industry, Terrorism, Trade, Transportation, Undercover operations, Veterans, Virgin Islands, Welfare
Latest Action: 04/17/2008 - Sponsor introductory remarks on measure. (CR S3156-3157) Bill TextA bill to amend the Internal Revenue Code of 1986 to amend certain expiring provisions. 4/17/2008--Introduced. Alternative Minimum Tax and Extenders Tax Relief Act of 2008 - Amends the Internal Revenue Code to extend expiring provisions relating to the alternative minimum tax, individual and business taxpayers, energy conservation, and tax administration. Extends through 2008 for individual taxpayers: (1) the offset of nonrefundable personal tax credits against alternative minimum tax (AMT) liability; and (2) increased AMT exemption amounts.Extends through 2009: (1) the election to include combat zone compensation as earned income for purposes of the earned income tax credit; (2) tax-free distributions from individual retirement plans (IRAs) for individuals called or ordered to active military duty and for charitable purposes; (3) the election to deduct state and local sales taxes in lieu of state and local income taxes; (4) the tax deductions for qualified tuition [...] show full description
Also tagged in: Alaska, Arizona, Budgets, Business, California, Colorado River development, Commercial arbitration, Construction industries, Contracts, Energy, Federal-Indian relations, Finance, Fishing, Florida, Hydroelectric power, Indian lands, Indians, Indigenous peoples, Investment of public funds, Land transfers, Leases, Michigan, Minorities, Oregon, Revenue sharing, Sports, Water resources, Wisconsin
Latest Action: 06/19/2008 - Received in the Senate and Read twice and referred to the Committee on Indian Affairs. Bill TextTo amend certain laws relating to Native Americans, and for other purposes. 4/2/2008--Introduced. Authorizes the Secretary of Interior to annually disperse to the Colorado River Indian Tribes funds from revenues deposited into the Treasury pursuant to the Southern California Indian Land Transfer Act from power operations on the Tribes' reservation. Requires such disbursement to: (1) be used to fund the Office of the Colorado Indian Tribes Reservation Energy Development; (2) not affect funds held from any other irrigation project; (3) not exceed $200,000 annually; and (4) be disbursed in years that the revenues deposited exceed the amount required to carry out the purposes for which they were deposited.Authorizes the Saulte Ste. Marie Tribe of Chippewa Indians of Michigan and the Lac du Flambeau Band of Lake Superior Chippewa Indians Wisconsin to transfer, lease, encumber, or convey their interest in real property that is not held in trust by the United States for the [...] show full description
Also tagged in: Business, Capital gains tax, Corporations, Finance, Free trade, Income tax, Investment tax credit, Manufacturing industries, Service industries, Space activities, Space commercialization, Tariff, Tax exclusion, Taxation, Trade
Latest Action: 02/07/2008 - Referred to the House Committee on Ways and Means. Bill TextTo amend the Internal Revenue Code of 1986 to provide tax incentives for investing in companies involved in space-related activities. 2/7/2008--Introduced. Zero Gravity, Zero Tax Act of 2008 - Amends the Internal Revenue Code to: (1) exclude from gross income space-related income from products or articles produced, or services provided, in or from outer space; (2) allow an investment tax credit for the purchase of stock in a space company that has average annual gross receipts not exceeding $100 million and that derives more than 70 percent of its gross receipts from space-based business; and (3) exclude from gross income gain from the sale or exchange of any stock of certain space corporations.
Also tagged in: Accounting, Administrative procedure, Aged, Aliens, Alimony, Americans in foreign countries, Annuities, Armed forces, Athletics, Bank accounts, Banks and banking, Bonds, Business, Business travel, Capital gains tax, Cemeteries and funerals, Charitable contributions, Child support, Children, College costs, College sports, Colleges, Commemorations, Communications, Conservation of natural resources, Contracts, Cooperative societies, Corporate governance, Corporate mergers, Corporation taxes, Cost of living adjustments, Criminal justice, Damages, Debt, Defense policy, Department of the Treasury, Depreciation and amortization, Disability insurance, Disabled, Dividends, Divorce, Economic policy, Education, Education savings accounts, Employee ownership, Employee training, Environmental protection, Estate tax, Executive departments, Expatriation, Families, Finance, Financial services, Food, Foreign corporations, Foreign policy, Foster home care, Foundations, Fringe benefits, Gift tax, Gifts, Government corporations, Habitat conservation, Health insurance, Health policy, Higher education, Historic sites, History, Home ownership, Housing, Housing finance, Immigration, Imports, Income tax, Indexing (Economic policy), Individual retirement accounts, Insurance companies, Insurance premiums, Interest, Intergovernmental tax relations, International affairs, Job training, Labor, Land use, Law, Leases, Life insurance, Loan defaults, Lobbying, Local government, Losses, Marketing, Married people, Medical care, Medical economics, Medical research, Medical savings accounts, Medicare, Military pay, Military pensions, Mortgages, Natural resources, Officer personnel, Old age, survivors and disability insurance, Open space lands, Outdoor recreation, Partnerships, Pensions, Politics and government, Profit, Railroad retirement plans, Real estate business, Real estate development, Recreation areas, Rent, Salaries, School personnel, Science policy, Single people, Social security, Social security taxes, Social services, Sports, Sports facilities, State and local government, State politics and government, Tax administration, Tax credits, Tax deductions, Tax deferral, Tax evasion, Tax exclusion, Tax exemption, Tax penalties, Tax rates, Tax refunds, Tax returns, Tax simplification, Tax treaties, Tax-deferred compensation plans, Tax-exempt organizations, Taxation, Taxation of foreign income, Teachers, Telecommunication, Telecommunication industry, Telephone, Territories (U.S.), Terrorism, Torts, Trade, Transportation, Travel costs, Trusts and trustees, Unemployment, Unrelated business income tax, Vocational education, Wages, Withholding tax, Workers' compensation
Latest Action: 11/13/2007 - Referred to the House Committee on Ways and Means. Bill TextTo amend the Internal Revenue Code of 1986 to restructure and replace the income tax system of the United States to meet national priorities, and for other purposes. 11/13/2007--Introduced. Simplified USA Tax Act of 2007 - Repeals, after 2006, income tax and estate and gift tax provisions of the Internal Revenue Code of 1986. Replaces such Code with a new tax system, to be known as the Simplified USA Tax. Establishes three income tax brackets at 15, 25, and 30% for individual taxpayers. Redefines "gross income" and allows certain exclusions from gross income, including previously-taxed benefits, tax-exempt bond interest, compensation for injuries and sickness, and gain from the sale of a principal residence. Allows tax deductions for alimony and child support, home mortgage interest, certain higher education expenses, and charitable contributions. Allows a tax credit for employee social security payroll taxes.Revises rules for Roth individual retirement [...] show full description
Also tagged in: Alabama, Alcohol tax, American Samoa, Armed forces, Bonds, Books, Brokers, Brownfields, Budgets, Business, Caribbean area, Charitable contributions, Children, Civil rights, Collection of accounts, College costs, Computer software, Computers, Congress, Congressional reporting requirements, Cooperative housing, Corporation taxes, Criminal justice, Debt, Defense policy, Depreciation and amortization, Discrimination in insurance, Discrimination in medical care, District of Columbia, Dividends, Earned income tax credit, Economic development, Economic policy, Education, Educational technology, Elementary and secondary education, Elementary education, Employee stock options, Employment, Environmental protection, Estate tax, Expatriation, Families, Federal aid to education, Federal-local relations, Finance, Food, Foreign corporations, Foreign tax credit, Gift tax, Government contractors, Government employees, Government information, Government paperwork, Government travel, Hazardous substances, Hazardous waste sites, Hazardous wastes, Health insurance, Higher education, Home ownership, Housing, Hou |
