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S. 2961

BillFederalSenateIn Committee
Qualified Personal Service Corporations Clarification Act of 2004
About This Bill
Committee
Latest Action · October 8, 2004
Read twice and referred to the Committee on Finance.
Congress
108th (2003–2005)
Introduced
October 8, 2004
Cosponsors (1)
0D 1R
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Summary

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Qualified Personal Service Corporations Clarification Act of 2004 - Amends the Internal Revenue Code to modify the criteria for determining whether a corporation is a qualified personal service corporation. Includes within the definition of qualified personal service corporation a qualifying corporation substantially all of whose stock is held by certain former employees (thus permitting such corporation to use the cash method of accounting).

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