A bill to amend the Internal Revenue Code of 1986 to provide for the treatment of S corporations for purposes of election of the alternative tax on qualifying shipping activities, and for other purposes.

Summary

Amends the Internal Revenue Code to provide for the tax treatment of the notional shipping income of S corporation shareholders by requiring the inclusion of such income for purposes of the alternative tax on qualifying shipping activities and by imposing a 15% surtax on certain differential amounts related to such income.

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

Timeline

1. 9 September 2009

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 9 September 2009

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 9 September 2009 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 9 September 2009

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 9 September 2009

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 9 September 2009

  Open at official source

Sponsors

• Sen. Stabenow, Debbie [D-MI] · D · Sponsor
• Sen. Voinovich, George V. [R-OH] · R · Sponsor
• Sen. Levin, Carl [D-MI] · D · Sponsor
• Amy Klobuchar · D · Sponsor
• · ssfi00 · Standing

Related records

No cross-record relationships stored yet.