To amend the Internal Revenue Code of 1986 to reestablish the 15 percent corporate rate bracket.
USA115th CongressHR-7176| House
| Updated: 11/27/2018
Steve King
Republican Representative
Iowa
Cosponsors (1)
Ways and Means Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Restoring Economic Opportunities for Small Family C-Corporations This bill reinstates (1) the 15% corporate tax bracket for up to $50,000 in taxable income, and (2) the additional tax on corporations with taxable income that exceeds $100,000. The bill limits the additional tax to the lesser of 5% of the excess or $3,000. (Under current law, corporations are taxed at a flat 21% rate.)
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Timeline
Introduced in House
Referred to the House Committee on Ways and Means.
Taxation
Corporate finance and managementIncome tax ratesTax administration and collection, taxpayers
To amend the Internal Revenue Code of 1986 to reestablish the 15 percent corporate rate bracket.
USA115th CongressHR-7176| House
| Updated: 11/27/2018
Restoring Economic Opportunities for Small Family C-Corporations This bill reinstates (1) the 15% corporate tax bracket for up to $50,000 in taxable income, and (2) the additional tax on corporations with taxable income that exceeds $100,000. The bill limits the additional tax to the lesser of 5% of the excess or $3,000. (Under current law, corporations are taxed at a flat 21% rate.)
View Full TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in House
Referred to the House Committee on Ways and Means.
Steve King
Republican Representative
Iowa
Cosponsors (1)
Ways and Means Committee
Taxation
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Corporate finance and managementIncome tax ratesTax administration and collection, taxpayers