H.R.3903 - Family Farm Tax Accounting Relief Act of 1988100th Congress (1987-1988)
|Sponsor:||Rep. Roth, Toby [R-WI-8] (Introduced 02/03/1988)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 11/10/1988 Provisions of Measure Incorporated Into H.R.4333. (All Actions)|
This bill has the status Introduced
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Summary: H.R.3903 — 100th Congress (1987-1988)All Information (Except Text)
Introduced in House (02/03/1988)
Family Farm Tax Accounting Relief Act of 1988 - Amends the Internal Revenue Code to exempt from the required application of uniform inventory cost capitalization rules any animal produced in a farming business, regardless of the animal's preproductive period.
Permits an exception from required use of the accrual method of accounting for family farm corporations having gross receipts of $5,000,000 or less for each prior taxable year after 1985.