United States · Bill · S
S. 2141 (97th)
Family Business Preservation Act
Introduced
25 February 1982
Last action
—
Status
Committee on Finance requested executive comment from OMB; Treasury Department.
Sponsors
—
Subjects
Discovery layer
Source updated
29 August 2025
Summary
Family Business Preservation Act - Amends the Internal Revenue Code to provide that for purposes of the accumulated earnings tax any accumulation before the death of a shareholder needed to redeem stock after death shall be treated as a reasonable business need. Modifies the alternate extension of time for payment of the estate tax where the estate consists largely of an interest in a closely held business to increase from 15 to 25 the number of shareholders in a qualifying closely held business.
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Documents
1 official file
Introduced in Senate
summary · EN · 25 February 1982
Sponsors
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Sources
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- Official source: https://www.congress.gov/bill/97th-congress/senate-bill/2141
- Open data entity: https://api.congress.gov/v3/bill/97/s/2141