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Limited Liability Companies Offer Tax & Legal Advantages Limited Liability Companies Offer Tax & Legal Advantages

New Law Provides Tax Relief for Individuals The Jobs and Growth Tax Relief Reconciliation Act of 2003 (the 2003 Act) was signed into law by the President on May 28, 2003. Most of the tax bill's benefits, as discussed below, are directed toward individuals. However, some key provisions are targeted toward businesses and are covered on page four.

New Tax Law Provides Incentives to Purchase Business Equipment The Jobs and Growth Tax Relief Reconciliation Act of 2003 (the 2003 Act) increased the amount available to business owners for bonus depreciation and immediate expensing for qualified equipment purchases.