United States · Bill · S
S. 514 (99th)
A bill to amend the Internal Revenue Code of 1954 to permit a charity to own stock in an S corporation.
Introduced
26 February 1985
Last action
—
Status
Committee on Finance requested executive comment from OMB, Treasury Department.
Sponsors
—
Subjects
Discovery layer
Source updated
3 January 2025
Summary
Amends the Internal Revenue Code to permit a charitable organization to own stock in a small business corporation (S corporation). Provides that a charitable organization which owns an interest in a partnership or owns stock in an S corporation must include its share of the unrelated trade or business income of the partnership or the S corporation in computing the charitable organization's unrelated trade or business income for the taxable year.
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Votes
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Versions
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Documents
1 official file
Introduced in Senate
summary · EN · 26 February 1985
Sponsors
No sponsors or actors listed by the source.
Related records
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Sources
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- Official source: https://www.congress.gov/bill/99th-congress/senate-bill/514
- Open data entity: https://api.congress.gov/v3/bill/99/s/514