Summary: H.R.4453 — 113th Congress (2013-2014)All Information (Except Text)

Bill summaries are authored by CRS.

Shown Here:
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.