3.0.0 1436 2023-01-15T06:17:49Z 2023-01-15T06:17:49Z Senate S S 2003-07-21 108 ssfi00 Finance Committee Senate Standing Referred to 2003-07-21T20:23:49Z 2003-07-21 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2003-07-21 Introduced in Senate IntroReferral 10000 9 Library of Congress N000032 Sen. Nelson, Bill [D-FL] CLARENCE NELSON D FL WILLIAM N G000352 Sen. Graham, Bob [D-FL] DANIEL GRAHAM D FL ROBERT 2003-07-21 True D000064 Sen. Daschle, Thomas A. [D-SD] THOMAS DASCHLE D SD ANDREW 2003-07-21 True J000177 Sen. Johnson, Tim [D-SD] TIM JOHNSON D SD 2003-07-21 True Taxation Accounting Administrative procedure Administrative remedies Business records Civil actions and liability Commerce Confidential communications Congress Congressional reporting requirements Corporate debt Corporate finance Corporation directors Corporation taxes Crime and Law Enforcement Department of the Treasury Depreciation and amortization Economics and Public Finance Excise tax Executives Fines (Penalties) Foreign corporations Government Operations and Politics Government paperwork Income tax Information disclosure (Securities law) Interest Labor and Employment Law Leases Limitation of actions Local finance Local taxation Losses Motor vehicles Partnerships Pension funds Profit Real estate investment Sales tax State finance State taxation Stocks Tax administration Tax deductions Tax deferral Tax evasion Tax penalties Tax preparers Tax rates Tax returns Tax shelters Taxation of foreign income Transportation and Public Works User charges Valuation Withholding tax Taxation 00 2003-07-21 Introduced in Senate 2003-09-16T18:51:59Z Sales Tax Equity Act of 2003 - Amends the Internal Revenue Code to permit taxpayers an election to deduct State and local sales taxes in lieu of State and local income taxes.

Sets forth rules for use in applying the economic substance doctrine, including defining economic substance doctrine.

Establishes and modifies penalties concerning tax shelters.

Revises provisions concerning corporate governance and executive compensation.

Revises expatriation provisions.

Revises other provisions concerning: (1) foreign source income and foreign pension plans; (2) partnership loss transfers; and (3) tax-exempt insurance companies.]]>

Sales Tax Equity Act of 2003 Display Title Sales Tax Equity Act of 2003 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to allow a deduction for State and local sales taxes in lieu of State and local income taxes, and for other purposes. Introduced in Senate IS Short Titles as Introduced Sales Tax Equity Act of 2003 Introduced in Senate 2003-07-21T04:00:00Z 2003-07-21 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.