A bill to amend the Internal Revenue Code of 1986 to provide for the treatment of S corporations for purposes of election of the alternative tax on qualifying shipping activities, and for other purposes.
About This Bill
Committee
Latest Action · September 9, 2009
Read twice and referred to the Committee on Finance.
Amends the Internal Revenue Code to provide for the tax treatment of the notional shipping income of S corporation shareholders by requiring the inclusion of such income for purposes of the alternative tax on qualifying shipping activities and by imposing a 15% surtax on certain differential amounts related to such income.
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