HOUSE 901116th CongressReferred to the House Committee on Ways and Means.

Restoring Economic Opportunities for Small Family C–Corporations

Last Action: 1/30/2019

Actions

2019-01-30Referred to the House Committee on Ways and Means.
2019-01-30Introduced in House
2019-01-30Introduced in House

CRS Summary

As of 2019-01-30 (00)

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.)

Cosponsors (1)

Scott DesJarlais (R-TN)

Subjects

Corporate finance and management
Income tax rates
Tax administration and collection, taxpayers

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