Other Provisions for Corporations. For tax years beginning after 2002, the personal holding company tax rate and accumulated earnings tax rate have been lowered to 15%.

Also, the collapsible corporation rules of Section 341 have been repealed. These provisions required the gain recognized on the sale or liquidation of the stock of a collapsible corporation to be classified as ordinary income rather than as capital gain.

The above changes are scheduled to expire for tax years beginning after 2008.

Also, 17% of any corporation estimate installment that was otherwise due in September 2003 was not due until October 1, 2003.

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