Polling is a powerful tool to help our elected officials determine how they should vote.
Standard polling methods don't give you the control that you deserve. With BetterDistricts you can show your representative exactly how strongly a bill is supported in your community.
Send a clear signal on how you want your government to work.
H.R. 1805 - Equine Tax Parity Act of 2017
Equine Tax Parity Act of 2017
This bill amends the Internal Revenue Code, with respect to the preferential tax treatment of gains and losses from the sale of depreciable property used in a trade or business, to eliminate "horses" from the definition of "livestock" (thus making the 24-month holding period requirement for livestock inapplicable to horses and allowing horses to be treated as capital assets subject to the existing 1-year holding period requirement).
Full Text
|
1st Session |
To amend the Internal Revenue Code of 1986 to reduce the holding period used to determine whether horses are section 1231 assets to 12 months.
Mr. Barr introduced the following bill; which was referred to the Committee on Ways and Means
To amend the Internal Revenue Code of 1986 to reduce the holding period used to determine whether horses are section 1231 assets to 12 months.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
This Act may be cited as the “Equine Tax Parity Act of 2017”.
(a) In general.—Section 1231(b)(3)(A) of the Internal Revenue Code of 1986 is amended by striking “and horses”.
(b) Effective date.—The amendment made by this section shall apply to taxable years beginning after December 31, 2017.
Relevant News Stories And Blog Posts
| Title | Worth Reading |
|---|