United States · Bill · S
S. 3254 (110th)
A bill to amend the Internal Revenue Code of 1986 to allow banks to be taxed as limited liability companies, and for other purposes.
Introduced
11 July 2008
Last action
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Status
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6606-6607)
Sponsors
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Subjects
Discovery layer
Source updated
14 January 2025
Summary
Amends the Internal Revenue Code to allow a state-chartered banking entity to elect to be treated as a partnership or separate entity for tax purposes if it is organized as a limited liability company under state law and has Federal Deposit Insurance Corporation (FDIC) insurance. Exempts such an entity from treatment as a bank under the Internal Revenue Code for purposes of its bad debts, losses, gains from the sale of its securities, and the taxation of its common trust funds.
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Votes
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Versions
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Documents
3 official files
Introduced in Senate (text)
Introduced in Senate · EN · 11 July 2008
Introduced in Senate (PDF)
Introduced in Senate · EN · 11 July 2008
Introduced in Senate
summary · EN · 11 July 2008
Sponsors
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Related records
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Sources
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- Official source: https://www.congress.gov/bill/110th-congress/senate-bill/3254
- Open data entity: https://api.congress.gov/v3/bill/110/s/3254