A bill to amend the Internal Revenue Code of 1954 to cut in half the capital gains tax on the sale of certain stocks and bonds of qualified small corporations.
American Innovation Tax Incentive Act of 1981 - Amends the Internal Revenue Code to reduce the rate of tax on the net capital gains of individuals and corporations which realize gain from the sale of qualified securities issued by small business corporations. Defines "qualified securities" as stock or securities issued by corporations which meet specified requirements relating to size and employee ownership.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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