Capital Gains Tax
US Congress 114th Congress
A bill to amend the Internal Revenue Code of 1986 to make permanent the reduced recognition period for built-in gains for S corporations. [S.1905]
[Taxes ]
[Small Business ]
A bill to amend the Internal Revenue Code of 1986 to make permanent the reduced recognition period for built-in gains for S corporations. This bill amends the Internal Revenue Code to make permanent a recognition period of 5 years (currently, 10 years) of the built-in gains of an S corporation beginning on the date that such corporation qualifies as an S corporation.
Sponsored by: Sen. Benjamin L. Cardin
Read Twice And Referred To The Committee On Finance. on 07/30/2015
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Small Business Tax Compliance Relief Act of 2015 [S.1827]
[Taxes ]
[Small Business ]
[Pensions ]
[Retirement ]
[Healthcare ]
[Budget and Spending ]
[Finance ]
Small Business Tax Compliance Relief Act of 2015 This bill amends provisions of the the Internal Revenue Code relating to the taxation of small businesses to: allow small business entities with gross receipts not exceeding $10 million (currently, $5 million) to use the cash method of accounting and an exemption from the requirement to use inventories; eliminate restrictions on the depreciation of computers or peripheral equipment; extend the tax deduction for the health insurance costs of self-employed individuals; allow small business entities
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Sponsored by: Sen. David Vitter
Read Twice And Referred To The Committee On Finance. on 07/22/2015
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Startup Act [S.181]
[Immigration ]
[Technology and Innovation ]
[Taxes ]
[Small Business ]
[Science ]
[Economic Development ]
[Funding ]
[Grants ]
[Education ]
Startup Act Amends the Immigration and Nationality Act to authorize the Secretary of Homeland Security (DHS) to adjust to conditional permanent resident status up to 50,000 aliens who have earned a master's or doctorate degree in a science, technology, engineering, or mathematics field (STEM field) and permit such an alien to remain in the United States: (1) for up to one year after the expiration of the alien's student visa, if the alien is searching for STEM field employment; and (2) indefinitely if the alien remains actively engaged in a STEM
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Sponsored by: Sen. Amy Klobuchar
Read Twice And Referred To The Committee On Finance. on 01/16/2015
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US Congress 114th Congress
Carried Interest Fairness Act of 2015 [S.1686]
[Finance ]
[Taxes ]
[Investments ]
Carried Interest Fairness Act of 2015 Amends the Internal Revenue Code to: (1) set forth a special rule for the inclusion in gross income of partnership interests transferred in connection with the performance of services, (2) treat as ordinary income the net capital gain with respect to an investment services partnership interest except to the extent such gain is attributable to a partner's qualified capital interest, (3) exempt income from investment services partnership interests from treatment as qualifying income of a publicly traded partnership,
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Sponsored by: Sen. Jack Reed
Read Twice And Referred To The Committee On Finance. on 06/25/2015
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US Congress 114th Congress
Florida Fisheries Improvement Act [S.1403]
[Environmental ]
[Science ]
[Public Lands and National Parks ]
[Animals ]
[Water ]
[Economic Development ]
[Funding ]
[Grants ]
[Agriculture ]
[Food ]
Florida Fisheries Improvement Act This bill amends the Magnuson-Stevens Fishery Conservation and Management Act (MSA) to revise requirements for fishery management in the Gulf of Mexico and the South Atlantic. Regional fishery management councils may use alternative fishery management measures in a recreational fishery. This bill revises requirements for fishery management plans, including by exempting certain species from fishery rebuilding requirements, changing how to determine the timelines for rebuilding fisheries, and repealing the requirement
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Sponsored by: Sen. Bill Nelson
By Senator Thune From Committee On Commerce, Science, And Transportation Filed Written Report. Report No. 114-398. on 12/09/2016
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Promotion and Expansion of Private Employee Ownership Act of 2015 [S.1212]
[Labor, Jobs, Employment ]
[Taxes ]
[Small Business ]
[Pensions ]
[Retirement ]
Promotion and Expansion of Private Employee Ownership Act of 2015 Amends the Internal Revenue Code to extend to all domestic corporations, including S corporations, provisions allowing deferral of tax on gain from the sale of employer securities to an S corporation-sponsored employer stock ownership plan (ESOP). Directs the Department of the Treasury to establish the S Corporation Employee Ownership Assistance Office to foster increased employee ownership of S corporations. Amends the Small Business Act to define "ESOP business concern" and allow
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Sponsored by: Sen. Robert P. Casey
Read Twice And Referred To The Committee On Finance. on 05/06/2015
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US Congress 114th Congress
End Polluter Welfare Act of 2015 [S.1041]
[Energy ]
[Environmental ]
[Taxes ]
[Climate Change ]
[Trade ]
[Budget and Spending ]
End Polluter Welfare Act of 2015 Amends the Outer Continental Shelf Lands Act and the Energy Policy Act of 2005 to repeal the authority of the Department of the Interior to reduce or eliminate royalty payments for oil and natural gas leases in the Outer Continental Shelf. Amends the Mineral Leasing Act to increase minimum royalty payments for coal, oil, and natural gas leases. Amends the Federal Oil and Gas Royalty Management Act of 1982 to prohibit payment of interest upon any overpayment of royalties. Amends the Oil Pollution Act to eliminate
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Sponsored by: Sen. Edward J. Markey
Read Twice And Referred To The Committee On Finance. on 04/22/2015
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Affirming that private equity plays an important role in growing and strengthening United States businesses throughout all sectors of the economy and in every State and congressional district and that it has fostered significant investment in the United States economy. [HR-464]
[Finance ]
[Taxes ]
[Investments ]
[Economic Development ]
Affirming that private equity plays an important role in growing and strengthening United States businesses throughout all sectors of the economy and in every State and congressional district and that it has fostered significant investment in the United States economy. Affirms that private equity: (1) plays an important role in growing and strengthening U.S. businesses throughout all sectors of the economy and in every state and congressional district, and (2) has fostered significant investment in the U.S. economy. Expresses the sense of the House
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Sponsored by: Rep. Alexander Mooney
Introduced In House on 10/06/2015
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US Congress 114th Congress
Startup Act [HB-962]
[Immigration ]
[Finance ]
[Taxes ]
[Technology and Innovation ]
[Small Business ]
[Science ]
[Economic Development ]
[Funding ]
[Grants ]
[Education ]
Startup Act Amends the Immigration and Nationality Act to authorize the Secretary of Homeland Security to adjust to conditional permanent resident status up to 50,000 aliens who have earned a master's or doctorate degree in a science, technology, engineering, or mathematics field (STEM field) and permit such an alien to remain in the United States: (1) for up to one year after the expiration of the alien's student visa, if the alien is searching for STEM field employment; and (2) indefinitely if the alien remains actively engaged in a STEM field.
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Sponsored by: Rep. David G. Valadao
Referred To The Subcommittee On Research And Technology. on 03/10/2015
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Permanent S Corporation Charitable Contribution Act of 2015 [HB-630]
[Taxes ]
[Nonprofit ]
Permanent S Corporation Charitable Contribution Act of 2015 (Sec. 2) This bill amends the Internal Revenue Code to make permanent the tax rule that reduces the basis of the stock of an S corporation shareholder by the adjusted basis (rather than fair market value) of any charitable contribution made by the S corporation.
Sponsored by: Rep. Ryan A. Costello
Reported (amended) By The Committee On Ways And Means. H. Rept. 114-16. on 02/09/2015
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Permanent S Corporation Built-in Gain Recognition Period Act of 2015 [HB-629]
[Taxes ]
[Small Business ]
Permanent S Corporation Built-in Gain Recognition Period Act of 2015 (Sec. 2) Amends the Internal Revenue Code to reduce from 10 years to 5 years the period during which the built-in gains of an S corporation are subject to tax and to make such reduction permanent.
Sponsored by: Rep. Ryan A. Costello
Reported (amended) By The Committee On Ways And Means. H. Rept. 114-15. on 02/09/2015
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Infrastructure 2.0 Act [HB-625]
[Infrastructure ]
[Taxes ]
[Transportation and Motor Vehicles ]
[Budget and Spending ]
[Construction ]
[Economic Development ]
[Funding ]
Infrastructure 2.0 Act Amends the Internal Revenue Code, with respect to the taxation of earnings and profits of a deferred foreign income corporation, to: (1) make such earnings and profit subject to taxation in the last taxable year that ends before the enactment of this Act; (2) reduce the rate of tax on such earnings and profits by allowing an exemption of 75% (equal to a tax of 8.75% of repatriated earnings and profits); and (3) allow such corporations to elect to pay such tax in eight installments. Establishes the American Infrastructure Fund
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Sponsored by: Rep. James R. Langevin
Referred To The Subcommittee On Highways And Transit. on 02/02/2015
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S Corporation Modernization Act of 2016 [HB-5754]
[Taxes ]
[Small Business ]
S Corporation Modernization Act of 2016
Sponsored by: Rep. David G. Reichert
Introduced In House on 07/13/2016
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US Congress 114th Congress
In the Red Act of 2016 [HB-5106]
[Budget and Spending ]
In the Red Act of 2016
Sponsored by: Rep. Robert C. Scott
Referred To The Subcommittee On Higher Education And Workforce Training. on 09/19/2016
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Investing in Opportunity Act [HB-5082]
[Economic Development ]
[Taxes ]
[Community Development ]
[Small Business ]
[Budget and Spending ]
[Finance ]
[Housing ]
Investing in Opportunity Act This bill amends the Internal Revenue Code to authorize the designation of opportunity zones in low-income communities and to provide tax incentives for investments in the zones, including deferring the recognition of capital gains that are reinvested in the zones. Governors may submit nominations for a limited number of opportunity zones to the Department of the Treasury for certification and designation. Governors must give particular consideration to areas that: are currently the focus of mutually reinforcing state,
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Sponsored by: Rep. Ted Lieu
Introduced In House on 04/27/2016
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US Congress 114th Congress
Expanding Employee Ownership Act of 2016 [HB-4577]
[Labor, Jobs, Employment ]
[Taxes ]
[Small Business ]
Expanding Employee Ownership Act of 2016 This bill amends the Internal Revenue Code to exclude from the gross income of an employee: (1) shares of employer securities received in a qualified employee stock distribution as compensation for services that do not exceed the lowest number of employer securities received by any employee in such distribution; (2) any gain on such securities if held by an employee for not less than 10 years; and (3) in the case of any qualified disposition of an employer security that meets such 10-year holding requirement,
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Sponsored by: Rep. Collin C. Peterson
Introduced In House on 02/12/2016
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Fairness in Taxation Act of 2015 [HB-389]
[Taxes ]
Fairness in Taxation Act of 2015 Amends the Internal Revenue Code to: (1) increase individual income tax rates for taxpayers whose taxable income exceeds $1 million, and (2) provide for an adjustment in the capital gains tax of taxpayers whose taxable income is subject to the 45% tax bracket.
Sponsored by: Rep. Raul M. Grijalva
Introduced In House on 01/14/2015
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Equine Tax Parity Act [HB-3672]
[Taxes ]
[Agriculture ]
Equine Tax Parity Act This bill amends the Internal Revenue Code, with respect to the preferential tax treatment of gains and losses from the sale of depreciable property used in a trade or business, to eliminate "horses" from the definition of "livestock" (thus making the 24-month holding period requirement for livestock inapplicable to horses and allowing horses to be treated as capital assets subject to the existing 1-year holding period requirement).
Sponsored by: Rep. Garland Barr
Introduced In House on 10/01/2015
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Community Bank Flexibility Act [HB-3287]
[Finance ]
[Taxes ]
[Small Business ]
Community Bank Flexibility Act This bill amends the Internal Revenue Code, with respect to the tax treatment of small banks, to: (1) allow such banks to reorganize as either corporations or partnerships for tax purposes, (2) permit such banks to reorganize without incurring an additional tax for liquidation, and (3) impose a five-year recognition period of the built-in gains of such banks.
Sponsored by: Rep. Kenny Marchant
Referred To The House Committee On Ways And Means. on 07/29/2015
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Timber Revitalization and Economic Enhancement Act of 2015 [HB-3161]
[Finance ]
[Taxes ]
[Small Business ]
[Economic Development ]
[Agriculture ]
Timber Revitalization and Economic Enhancement Act of 2015 Amends the Internal Revenue Code, with respect to the reduced tax rate on the net timber gains of corporations, to: (1) adjust the formula for calculating such rate, and (2) make such reduced rate permanent.
Sponsored by: Rep. Gregg Harper
Introduced In House on 07/22/2015