Summary: S.2203 — 106th Congress (1999-2000)All Information (Except Text)

There is one summary for S.2203. Bill summaries are authored by CRS.

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Introduced in Senate (03/07/2000)

Fair Tax Treatment for Fishermen Act of 2000 - Amends the Internal Revenue Code to: (1) extend income averaging to income from the trade or business of catching, taking, or harvesting fish intended to enter commerce through sale, barter, or trade; and (2) disregard income averaging for farmers and commercial fishermen in computing the regular alternative minimum tax.

Allows a limited deduction to fishermen for amounts paid into a Fishing Risk Management Account.