US HB4166 | 2017-2018 | 115th Congress
Status
Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on October 27 2017 - 25% progression, died in committee
Action: 2017-10-27 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on October 27 2017 - 25% progression, died in committee
Action: 2017-10-27 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
To amend the Internal Revenue Code of 1986 to allow all employees of a firm to be counted as a single shareholder toward the shareholder limit of an S corporation. This bill amends the Internal Revenue Code, with respect to the limit on the number of shareholders of an S corporation, to: (1) allow employees (and their estates) of the S corporation and any wholly owned business entities of the corporation to be treated as one shareholder if the corporation only has employee shareholders; (2) allow nonresident aliens to be shareholders if the nonresident alien is an employee, or the spouse of an employee, of such a corporation; and (3) establish tax withholding requirements for nonresident aliens who are permitted to be shareholders under this bill.
Title
To amend the Internal Revenue Code of 1986 to allow all employees of a firm to be counted as a single shareholder toward the shareholder limit of an S corporation.
Sponsors
Rep. Adrian Smith [R-NE] | Rep. Don Bacon [R-NE] |
History
Date | Chamber | Action |
---|---|---|
2017-10-27 | House | Referred to the House Committee on Ways and Means. |
2017-10-27 | House | Introduced in House |
Subjects
Corporate finance and management
Immigration status and procedures
Small business
Tax administration and collection, taxpayers
Taxation
Immigration status and procedures
Small business
Tax administration and collection, taxpayers
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/115th-congress/house-bill/4166/all-info |
Text | https://www.congress.gov/115/bills/hr4166/BILLS-115hr4166ih.pdf |