H.R.5310 - Zero Gravity, Zero Tax Act of 2008

To amend the Internal Revenue Code of 1986 to provide tax incentives for investing in companies involved in space-related activities. view all titles (2)

All Bill Titles

  • Short: Zero Gravity, Zero Tax Act of 2008 as introduced.
  • Official: To amend the Internal Revenue Code of 1986 to provide tax incentives for investing in companies involved in space-related activities. as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
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02/07/08
 
 
 
 
 
 
 

Official Summary

Zero Gravity, Zero Tax Act of 2008 - Amends the Internal Revenue Code to: (1) exclude from gross income space-related income from products or articles produced, or services provided, in or from outer space; (2) allow an investment tax credit for the purchase of stock in a space company that

Official Summary

Zero Gravity, Zero Tax Act of 2008 - Amends the Internal Revenue Code to:
(1) exclude from gross income space-related income from products or articles produced, or services provided, in or from outer space;
(2) allow an investment tax credit for the purchase of stock in a space company that has average annual gross receipts not exceeding $100 million and that derives more than 70 percent of its gross receipts from space-based business; and
(3) exclude from gross income gain from the sale or exchange of any stock of certain space corporations.

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