3.0.0 842 2023-01-15T23:33:11Z 2023-01-15T23:33:11Z Senate S S 2003-04-09 108 ssfi00 Finance Committee Senate Standing Referred to 2003-04-09T20:25:06Z 2003-04-09 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2003-04-09 Sponsor introductory remarks on measure. (CR S5075-5076) IntroReferral B00100 9 Library of Congress 2003-04-09 Introduced in Senate IntroReferral 10000 9 Library of Congress K000148 Sen. Kerry, John F. [D-MA] JOHN KERRY D MA FORBES N Taxation Advanced technology and technological innovations Alternative and renewable resources Business investment and capital Capital gains tax Computers and information technology Corporate finance and management Employment taxes Energy efficiency and conservation Environmental technology Health care costs and insurance Homeland security Income tax deductions Income tax exclusion Military procurement, research, weapons development Securities Self-employed Small business State and local government operations Tax administration and collection, taxpayers Terrorism Taxation 00 2003-04-09 Introduced in Senate 2006-11-28T17:35:40Z Establishes a $500 standard deduction for electing sole proprietorships.

Increases the exclusion percentage when calculating the exclusion of gain on qualified small business stock. Provides 100 percent exclusion for critical technology corporation stock and specialized small business investment company stock. Makes corporations eligible for such exclusion levels. Defines "critical technology corporation." Decreases the required holding period. Increases the period in which purchased replacement stock will qualify for rollover status.

Reduces the recovery period for depreciation of computers, peripheral equipment, and software.

Permits a self-employed individual to deduct all health insurance costs unless he or she participates in an employer-subsidized health plan.

Permits the disclosure of Federal taxpayer identity information and signatures to State entities to carry out an approved combined employment tax reporting program.

Extends income averaging to fishermen. States that income averaging for farmers and fisherman will not increase their alternative minimum tax liability.

Excludes from acquisition indebtedness certain indebtedness incurred by a small business investment company licensed under the Small Business Investment Act of 1958.

Allows a married couple co-owning a business and filing jointly to elect out of partnership status and file as sole proprietors.]]>

Affordable Small Business Stimulus and Simplification Act of 2003 Display Title Affordable Small Business Stimulus and Simplification Act of 2003 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to provide tax relief for small businesses, and for other purposes. Introduced in Senate IS Short Titles as Introduced Affordable Small Business Stimulus and Simplification Act of 2003 Introduced in Senate 2003-04-09T04:00:00Z 2003-04-09 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.