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The tax acts as a soft salary cap.
One of the reasons America split from Britain is because its parliament ignored the colonists' views while passing their various tax acts.
The other is a legacy of some of the least responsible tax legislation ever passed by a Congress, the 2001 and 2003 tax acts.
In the N.B.A., the luxury tax acts as a more effective constraint on player salaries than it does in Major League Baseball.
William Gale and Peter Orszag, co-directors of the Tax Policy Center, calculate that by 2012, sunsetting tax breaks (contained in this and previous tax acts) will equal 2.4% of gross domestic product.
The 1986 and 2017 tax acts also differ in more substantive ways.
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All the provisions of the tax act expire on Jan . 1 , 2011
These fables contributed to its de facto criminalization in 1937, through the Marijuana Tax Act.
ACRS was modified by the Tax Act of 1986 to reduce the impact on federal revenues.
"I didn't like the 1969 tax act," Mr. Houk said.
Economic Recovery Tax Act of 1981 (ERTA), U.S. federal tax legislation that contained numerous provisions intended to help businesses and individuals.
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