US SB1855 | 2013-2014 | 113th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on December 18 2013 - 25% progression, died in committee
Action: 2013-12-18 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on December 18 2013 - 25% progression, died in committee
Action: 2013-12-18 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Amends the Internal Revenue Code to reduce from 10 to 5 years the period during which the built-in gains of an S corporation are subject to tax and to make such reduction permanent.
Title
A bill to amend the Internal Revenue Code of 1986 to make permanent the reduced recognition period for built-in gains for S corporations.
Sponsors
| Sen. Benjamin Cardin [D-MD] | Sen. Pat Roberts [R-KS] |
History
| Date | Chamber | Action |
|---|---|---|
| 2013-12-18 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB892 (Related) 2013-02-28 - Referred to the House Committee on Ways and Means.
HB4453 (Related) 2014-06-17 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 433.
HB4453 (Related) 2014-06-17 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 433.
Subjects
Accounting and auditing
Business investment and capital
Capital gains tax
Securities
Small business
Tax administration and collection, taxpayers
Taxation
Business investment and capital
Capital gains tax
Securities
Small business
Tax administration and collection, taxpayers
Taxation
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/113th-congress/senate-bill/1855/all-info |
| Text | https://www.congress.gov/113/bills/s1855/BILLS-113s1855is.pdf |
