Jobs And Growth Tax Relief Reconciliation Act of 2003 - JGTRRA
Definition of 'Jobs And Growth Tax Relief Reconciliation Act of 2003 - JGTRRA'A U.S. tax law, passed by Congress on May 23, 2003, that lowered the maximum individual income tax rate on corporate dividends to 15%. The act also reduced the long-term individual income tax rate on capital gains to 15%. The act was signed by President George W. Bush on May 28, 2003, and was intended to amplify the effects of the Economic Growth and Tax Relief Reconciliation Act of 2001. |
|
Investopedia explains 'Jobs And Growth Tax Relief Reconciliation Act of 2003 - JGTRRA'The JGTRRA was put forward as part of an effort to jump-start the U.S. economy. The law significantly reduced the amount of tax paid by investors on dividends and capital gains. This development made it much more attractive for public companies to pay cash dividends to shareholders (instead of holding onto their cash and reinvesting it into expanded operations). Thus, after the enactment of the JGTRRA, the number of U.S. companies paying regular dividends increased substantially. |
Related Definitions
Articles Of Interest
-
Tax Tips For The Individual Investor
We give you seven guidelines to help you keep more of your money in your pocket. -
Dividend Tax Rates: What Investors Need To Know
Find out how legislation enacted in 2003 is benefiting both investors and corporations, and when it's scheduled to expire. -
How Dividends Work For Investors
Find out how a company can put its profits directly into your hands. -
Capital Gains Tax Cuts For Middle Income Investors
Find out how TIPRA plans to slash taxes for those in the 10-15% tax bracket. -
Dividends Still Look Good After All These Years
Find out how this "first love" still holds its bloom as it ages. -
Tax Holidays For Back-To-School Shopping 2013
Find out the types of back-to-school purchases that are exempt from sales tax for each state that is holding a tax holiday. -
New Tax Rules Target The Top Tax Bracket
The American Taxpayer Relief Act brings about new tax rules for the wealthy that people such as Warren Buffett have been calling for over the last few years. -
The U.S. National Spending And Debt
We are looking at what could be the official year of the Federal Budget, or, more specifically, our debt and how we will manage it for many years to come. -
Has Income Tax Become A Class Tax On The Poor?
With more than 33% of American families falling close to the poverty line despite their adult members holding full-time employment, a rising number of citizens are being forced to pay a rate ... -
How The 2014 Obama Budget Could Affect Your Finances
Depending on which estimate you believe, Obama's proposed budget would raise the tax bill of a household with a yearly income of $50,000 to $75,000 between $63 and $100 per year. However, that’s ...
Free Annual Reports