A bill to amend section 4940 of the Internal Revenue Code of 1954 to change the name of the amount imposed thereby on certain investment income from excise tax to service charge, and to reduce such amount from 4 percent to 1 1/2 percent.

referredUnited States· United States Congress· EN

Introduced

26 March 1974

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Redefines the excise tax imposed under the Internal Revenue Code on specified investment income of private foundations from "excise tax" to "service charge". Reduces such tax from 4 percent to 1 1/2 percent.

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Documents

1 official file

Introduced in House
summary · EN · 26 March 1974
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/93rd-congress/house-bill/13746
Open data entity: https://api.congress.gov/v3/bill/93/hr/13746