Stock Market Investment Act

Summary

Stock Market Investment Act - Amends the Internal Revenue Code to permit an income tax deduction in the amount of dividends paid by a corporation. Disallows such a deduction by S corporations, regulated investment companies, real estate investment trusts, and personal holding companies. Repeals the income tax deductions currently permitted in connection with: (1) dividends received by a corporation; (2) dividends received by a corporation on the preferred stock of a public utility; and (3) dividends paid by a public utility on its preferred stock. Increases from 80 percent to 85 percent the deductible percentage of amounts received by a corporation from a qualified ten-percent owned foreign corporation.

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1 official file

• Introduced in House

  summary · EN · 20 November 1987

  Open at official source

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