US SB1905 | 2015-2016 | 114th Congress
Status
Sponsorship: Bipartisan Bill
Status: Introduced on July 30 2015 - 25% progression, died in committee
Action: 2015-07-30 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on July 30 2015 - 25% progression, died in committee
Action: 2015-07-30 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
A bill to amend the Internal Revenue Code of 1986 to make permanent the reduced recognition period for built-in gains for S corporations. This bill amends the Internal Revenue Code to make permanent a recognition period of 5 years (currently, 10 years) of the built-in gains of an S corporation beginning on the date that such corporation qualifies as an S corporation.
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. Pat Roberts [R-KS] | Sen. Benjamin Cardin [D-MD] |
History
| Date | Chamber | Action |
|---|---|---|
| 2015-07-30 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB629 (Related) 2015-02-09 - Placed on the Union Calendar, Calendar No. 9.
HB2788 (Related) 2015-06-16 - Referred to the House Committee on Ways and Means.
HB2788 (Related) 2015-06-16 - Referred to the House Committee on Ways and Means.
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/114th-congress/senate-bill/1905/all-info |
| Text | https://www.congress.gov/114/bills/s1905/BILLS-114s1905is.pdf |
