United States · Bill · HR
H.R. 12423 (94th)
A bill to impose a minimum tax on individuals, based on economic income.
Introduced
11 March 1976
Last action
—
Status
Referred to House Committee on Ways and Means.
Sponsors
—
Subjects
Discovery layer
Source updated
1 August 2024
Summary
Imposes a tax, under the Internal Revenue Code, as an alternative to the income tax, minimum tax, and the capital gains tax, equal to 14 percent of the amount by which the taxpayer's economic income for the taxable year exceeds $40,000, but only if such alternative tax is greater than the tax liability under the income tax, minimum tax, and capital gains tax.
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Timeline
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Votes
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Versions
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Documents
1 official file
Introduced in House
summary · EN · 11 March 1976
Sponsors
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Related records
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Sources
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- Official source: https://www.congress.gov/bill/94th-congress/house-bill/12423
- Open data entity: https://api.congress.gov/v3/bill/94/hr/12423