Zero Gravity, Zero Tax Act of 2005

The Zero Gravity, Zero Tax Act of 2005 proposes to eliminate federal income taxes on profits earned from products manufactured or services provided in outer space. To encourage private investment in the aerospace industry, the bill would also provide a tax credit to individuals who purchase stock in small space-based companies and exempt investors from paying capital gains taxes when they sell that stock. The practical intent of the legislation is to lower the financial risks for emerging commercial space ventures, potentially accelerating the development of space tourism, satellite services, and off-planet manufacturing.