H.R.4877 - S Corporation Investment Act of 1994103rd Congress (1993-1994)
|Sponsor:||Rep. McHale, Paul [D-PA-15] (Introduced 08/01/1994)|
|Committees:||House - Ways and Means|
|Latest Action:||08/01/1994 Referred to the House Committee on Ways and Means.|
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Summary: H.R.4877 — 103rd Congress (1993-1994)All Bill Information (Except Text)
Introduced in House (08/01/1994)
S Corporation Investment Act of 1994 - Amends the Internal Revenue Code to increase from 35 to 40 the maximum number of shareholders of an S Corporation (small business corporation). Allows members of a family to be treated as one shareholder.
Increases the percentage of permissible passive income.
Allows a deduction for payments made to a reinvestment reserve with limitations.