United States · Bill · S
S. 722 (102nd)
A bill to amend the Internal Revenue Code of 1986 with respect to the requirement that an S corporation have only 1 class of stock.
Introduced
21 March 1991
Last action
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Status
Read twice and referred to the Committee on Finance.
Sponsors
—
Subjects
Discovery layer
Source updated
14 January 2025
Summary
Amends the Internal Revenue Code with respect to the requirement that an S corporation (certain small business corporations) have only one class of stock. Provides that an S corporation shall be treated as having one class of stock if all outstanding shares of stock confer identical rights for distribution and liquidation proceeds. Grants such corporations a reasonable period of time to take corrective action if found to have more than one class of stock in order to retain S corporation status.
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Votes
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Versions
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Documents
2 official files
Introduced in Senate (text)
Introduced in Senate · EN
Introduced in Senate
summary · EN · 21 March 1991
Sponsors
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Related records
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Sources
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- Official source: https://www.congress.gov/bill/102nd-congress/senate-bill/722
- Open data entity: https://api.congress.gov/v3/bill/102/s/722