Jobs and Growth Tax Relief Reconciliation Act of 2003

VIII. Capital Gains Tax Reduction

ØA. The 20 percent rate on net capital gains is reduced to 15 percent. For those in the 10 and 15 percent rate brackets, the capital gain rate is reduced to 5 percent now and to zero in 2008.

ØB. This applies to sales and exchanges after May 5, 2003, and before January 1, 2009.

ØC. The lower capital gain rate is used for computing both regular tax and alternative minimum tax.