Seniors' Family Business Enhancement Act

Summary

Seniors' Family Business Enhancement Act - Amends the Internal Revenue Code to provide an individual with a one-time exclusion from gross income for the sale or exchange of a qualified interest in a closely held business if: (1) the individual has attained the age of 62 before the date of the sale or exchange; (2) the adjusted gross income of the individual for the tax year in which such sale or exchange occurs does not exceed $1 million (determined without regard to such sale or exchange); and (3) the individual so elects.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 25 March 2003

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• Introduced in House (PDF)

  Introduced in House · EN · 25 March 2003

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• Introduced in House

  summary · EN · 25 March 2003

  Open at official source

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