Tax Reform Act of 1986 (United States)

URI: https://gptkb.org/entity/Tax_Reform_Act_of_1986_(United_States)

GPTKB entity

Statements (42)

Predicate	Object
gptkbp:instanceOf	gptkb:United_States_federal_law
gptkbp:affects	capital gains tax tax treatment of real estate depreciation rules tax treatment of corporations tax treatment of individuals tax treatment of passive activities
gptkbp:amendedBy	gptkb:Internal_Revenue_Code
gptkbp:category	1986 in American law Taxation in the United States United States federal taxation legislation
gptkbp:dateEnacted	October 22, 1986
gptkbp:debatedBy	gptkb:99th_United_States_Congress
gptkbp:eliminatedIn	many tax shelters many deductions many tax credits
gptkbp:enactedBy	gptkb:United_States_Congress
https://www.w3.org/2000/01/rdf-schema#label	Tax Reform Act of 1986 (United States)
gptkbp:improves	personal exemption standard deduction
gptkbp:increasedBottomIndividualRate	11% to 15%
gptkbp:introduced	Alternative Minimum Tax for individuals
gptkbp:prohibits	deductibility of interest deductibility of passive losses
gptkbp:publicLawNumber	gptkb:Public_Law_99-514
gptkbp:purpose	broaden the tax base eliminate many tax shelters simplify the income tax code lower individual and corporate tax rates
gptkbp:reducedCorporateTaxRate	46% to 34%
gptkbp:reducedTopIndividualRate	50% to 28%
gptkbp:relatedTo	gptkb:Internal_Revenue_Code_of_1986
gptkbp:repealedBy	Income averaging for individuals Investment tax credit
gptkbp:shortName	gptkb:TRA86
gptkbp:signedBy	gptkb:Ronald_Reagan
gptkbp:sponsor	gptkb:Dan_Rostenkowski gptkb:Bob_Packwood
gptkbp:statutesAtLargeCitation	100 Stat. 2085
gptkbp:title	gptkb:Tax_Reform_Act_of_1986
gptkbp:bfsParent	gptkb:Tax_Reform_Act_(various_countries)
gptkbp:bfsLayer	7