Sales Tax Equity Act of 2003

Summary

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.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 21 July 2003

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 21 July 2003

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• Introduced in Senate

  summary · EN · 21 July 2003

  Open at official source

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