H.R. 2480 · 108th Congress
To amend the Internal Revenue Code of 1986 to reduce estate and gift tax rates to 30 percent, to increase the exclusion equivalent of the unified credit to $10,000,000, and to increase the annual gift tax exclusion to $50,000.
- Stage
- In committee
- Sponsor
- Jim Leach
- Introduced
- 2003-06-16
- Latest action
- 2003-06-16 · Introduced in House
Summary
Amends the Internal Revenue Code to: (1) reduce estate and gift tax rates to 30 percent; (2) increase the exclusion equivalent of the unified credit to $10 million; and (3) increase the annual gift tax exclusion to $50,000.