2003 Tax Act New Law Will Benefit Individuals And Business

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Overview: On May 28, 2003, President Bush signed into law the Jobs and Growth Tax Relief Reconciliation Act of 2003. The Act includes several important changes that will reduce income taxes for individuals and small businesses. Specifically, the Act benefits individual taxpayers by reducing income taxes on capital gains and dividends and accelerating the marginal tax rate reductions and other individual income tax cuts established in earlier legislation. It also benefits small businesses by increasing capital investment deductions and extending a depreciation “bonus” for investment in new equipment. However, the Act does not make any changes to the Federal estate and gift tax laws. The act also discusses The key provisions of the Act affecting individual taxpayers.

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Format: PDF | Size: 30KB | Date: Jun 2003 | Pages: 3


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