H.R. 2513 · 108th Congress
Estate Tax Repeal for Family-Owned Farms and Businesses Act of 2003
- Stage
- In committee
- Sponsor
- Mike Thompson
- Introduced
- 2003-06-18
- Latest action
- 2003-06-18 · Introduced in House
Summary
Estate Tax Repeal for Family-Owned Farms and Businesses Act of 2003 - Amends estate tax provisions of the Internal Revenue Code to repeal section 2057 (Family-Owned Business Interests). Allows for purposes of such tax, in the case of an electing estate of a decedent with specified family-owned business interests, the taxable estate value to be determined by deducting from the value of the gross estate the adjusted value of such qualified family-owned business interests of the decedent. Provides for the treatment of family-owned business interests and spousal property.