A bill to amend the Internal Revenue Code of 1954 to increase the percentage limitation on the amount of the deduction allowable for charitable contributions made by corporations.

referredUnited States· United States Congress· EN

Introduced

31 August 1976

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Amends the Internal Revenue Code to increase the maximum allowable deduction for charitable contributions by corporations from the present five percent of the corporation's taxable income to the lesser of (1) ten percent of the corporation's taxable income; or (2) the sum of five percent of the corporation's taxable income plus $100,000.

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Documents

1 official file

Introduced in House
summary · EN · 31 August 1976
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/94th-congress/house-bill/15337
Open data entity: https://api.congress.gov/v3/bill/94/hr/15337