H.R.4453 - S Corporation Permanent Tax Relief Act of 2014113th Congress (2013-2014)
|Sponsor:||Rep. Reichert, David G. [R-WA-8] (Introduced 04/10/2014)|
|Committees:||House - Ways and Means|
|Committee Reports:||H. Rept. 113-429|
|Latest Action:||06/17/2014 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 433.|
|Major Recorded Votes:||06/12/2014 : Passed House|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Summary: H.R.4453 — 113th Congress (2013-2014)All Bill Information (Except Text)
Passed House amended (06/12/2014)
S Corporation Permanent Tax Relief Act of 2014 - Amends the Internal Revenue Code, with respect to the taxation of S corporations, to make permanent: (1) the reduction of the period (10 to 5 years) during which the built-in gains of such corporations are subject to tax, and (2) the rule requiring an adjustment to the basis of an shareholder's stock in an S corporation that makes tax deductible contributions of appreciated property.
Prohibits the entry of the budgetary effects of this Act on any PAYGO (Pay As You Go) scorecard.