Family Farm Tax Simplification Act of 2003

Family Farm Tax Simplification Act of 2003 - Amends the Internal Revenue Code to exempt from treatment as a partnership a qualified farming joint venture conducted by a jointly-filing husband and wife. Provides that income, gain, loss, deductions, and credits shall be equally divided, and treated as if attributable to a trade or business conducted by each spouse as a sole proprietor.

Defines "qualified farming joint venture."

Amends the Code and the Social Security Act to treat such income as net earnings from self-employment, respectively.