A bill to amend the Internal Revenue Code of 1954 to provide tax relief to small businesses by establishing a graduated income tax rate for corporations.

referredUnited States· United States Congress· EN

Introduced

18 July 1978

Last action

18 July 1978 · Introduced

Status

Referred to House Committee on Ways and Means.

Sponsors

Rep. Smith, Neal Edward [D-IA-4], Rep. Pickle, J. J. [D-TX-10], Rep. Corman, James C. [D-CA-21], Rep. Conte, Silvio O. [R-MA-1], Rep. Beard, Robin [R-TN-6], Rep. Brinkley, Jack [D-GA-3], Rep. Caputo, Bruce F. [R-NY-23], Rep. Duncan, John J. [R-TN-2], Rep. Edgar, Robert W. [D-PA-7], Sen. Fowler, Wyche, Jr. [D-GA], Rep. Howard, James J. [D-NJ-3], Rep. Kazen, Abraham, Jr. [D-TX-23], Rep. Leach, James A. [R-IA-2], Sen. Markey, Edward J. [D-MA], Rep. Moorhead, Carlos J. [R-CA-22], Rep. Murphy, Morgan F. [D-IL-2], Rep. Sebelius, Keith G. [R-KS-1], Sen. Simon, Paul [D-IL], Rep. Traxler, Bob [D-MI-8]

Subjects

Taxation

Source updated

1 August 2024

Taxation

Official source View documents Share

Summary

Amends the Internal Revenue Code by providing graduated corporate income tax rates ranging, over seven brackets, from a 16 percent rate on a corporation's first $25,000 income to a 45 percent rate on income over $150,000.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

18 July 1978
Introduced
Referred to House Committee on Ways and Means.
Source: IntroReferral
18 July 1978
Introduced
Introduced in House
Source: IntroReferral
18 July 1978
Introduced
Introduced in House
Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

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Introduced in House
summary · EN · 18 July 1978
Open at official source

Related records

related to → A bill to amend the Internal Revenue Code of 1954 to provide tax relief to small businesses by establishing a graduated income tax rate for corporations.

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/95th-congress/house-bill/13524
Open data entity: https://api.congress.gov/v3/bill/95/hr/13524
us · 95-hr-13524 · source updated 1 August 2024