A bill to amend the Internal Revenue Code of 1986 to reduce the recognition period for built-ins gains for subchapter S corporations.

Fact Sheet API

Bill Number

S 2604

Introduced

Jun 24, 2004

Latest Action

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR 6/25/2004 S7483)

Sponsor

Cosponsors

Topics

Capital gains tax Commerce Corporation taxes Income tax Small business Tax administration Tax rates Taxation

Full Text

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Votes

Summary

Amends the Internal Revenue Code to reduce from ten to seven years the period during which certain built-in gains of subchapter S corporations are subject to tax.

Actions

Jun 24, 2004

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR 6/25/2004 S7483)
Jun 24, 2004

Sponsor introductory remarks on measure. (CR 6/25/2004 S7483)
Jun 24, 2004

Introduced in Senate

Amendments

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