To amend the Internal Revenue Code of 1986 to allow capital gains treatment and an exception from the uniform capitalization rules for timber which is more than 4 years old when harvested.
Christmas Tree Tax Equity Act - Amends the Internal Revenue Code to make cut evergreens used for ornamental purposes that are older than four (currently six) years eligible for election as section 1231 business property and capital gains treatment.
Exempts such trees older than four (currently six) years from uniform capitalization rules.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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