Farm Tax Equity Act

Summary

Farm Tax Equity Act - Amends the Internal Revenue Code to limit the deductions attributable to the trade or business of farming to a maximum amount consisting of the sum of the taxpayer's gross income plus $15,000 reduced by the amount by which the nonfarm adjusted gross income of such taxpayer exceeds $15,000. States that such limitation shall not apply if the taxpayer's nonfarm adjusted gross income does not exceed $15,000, or if the taxpayer elects to compute his taxable income on the annual accrual method of accounting.

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Timeline

1. 20 March 1978

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 20 March 1978

   Introduced

   Introduced in House

   Source: IntroReferral

3. 20 March 1978

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 20 March 1978

  Open at official source

Sponsors

• Rep. Baucus, Max [D-MT-1] · D · Sponsor
• · hswm00 · Standing

Related records

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