Entrepreneurship and Productivity Growth Act of 1989

Summary

Entrepreneurship and Productivity Growth Act of 1989 - Title I: Capital Gains Rates - Amends the Internal Revenue Code to allow an exclusion from gross income of 50 percent of net capital gain from the sale or exchange of stock or tangible property (must be a capital asset used in the taxpayer's trade or business) that has been held for more than 12 months by a noncorporate taxpayer. Sets a maximum 14 percent tax rate with respect to such gain. Sets a 17 percent alternative tax rate with respect to corresponding capital gains of corporations. Title II: Indexing of Basis of Capital Assets - Requires indexing of the adjusted basis of capital assets, based on the gross national product deflator, in any year when the annual inflation rate exceeds four percent.

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2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 25 January 1989

  Open at official source

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