Summary: H.R.7176 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for H.R.7176. Bill summaries are authored by CRS.

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Introduced in House (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.)