Estate Tax Repeal Acceleration (ExTRA) for Family-Owned Businesses and Farms Act

Summary

Estate Tax Repeal Acceleration (ExTRA) for Family-Owned Businesses and Farms Act - Amends estate tax provisions of the Internal Revenue Code to repeal section 2057 (Family-Owned Business Interests). Allows for purposes of such tax, in the case of an electing estate of a decedent with specified carryover business interests, the taxable estate value to be determined by deducting from the value of the gross estate the adjusted value of such carryover business interests of the decedent. Provides for the treatment of carryover business interests and spousal property.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 7 January 2003

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 7 January 2003

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• Introduced in Senate

  summary · EN · 7 January 2003

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