S Corporation Investment Act of 1995

Summary

S Corporation Investment Act of 1995 - Amends the Internal Revenue Code to permit small business corporations to have not more than 40 (currently, not more than 35) shareholders, treating members of a family (currently, a husband and wife) as one shareholder. Terminates a small business corporation's election to be an S corporation when passive investment income exceeds 40 (currently, 25) percent of gross receipts for three consecutive years and other requirements are met. Imposes a tax when an S corporation has C earnings and profits and has gross receipts more than 40 (currently, 25) percent of which are passive investment income. Allows S corporations to elect to deduct payments to a reinvestment reserve.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 21 September 1995

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• Introduced in House (PDF)

  Introduced in House · EN · 21 September 1995

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• Introduced in House

  summary · EN · 21 September 1995

  Open at official source

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