Small Business Investment Company Tax Act

Summary

Small Business Investment Company Tax Act - Exempts small business investment companies from the passive investment income test as a condition of eligibility to elect not to be taxed as a corporation under the Internal Revenue Code. Provides a tax deduction for investments made by small business investment companies in small business concerns. Allows small business investment companies to be shareholders in subchapter "S" corporations (corporations electing to be taxed as partnerships). Authorizes small business investment companies to add to their bad debt reserves at the close of a taxable year an amount sufficient to increase the reserve to 10 percent of the loans outstanding. Provides a deduction for dividends paid on preferred stock to small business investment companies.

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

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 1 August 1975

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.