H.R. 1791 · 108th Congress
To amend the Internal Revenue Code of 1986 to provide an election for a special tax treatment of certain S…
Full title
To amend the Internal Revenue Code of 1986 to provide an election for a special tax treatment of certain S corporation conversions.
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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
CubinSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Internal Revenue Code to authorize a qualified S corporation to make a one-time corporate conversion under special tax treatment which shall: (1) in the case of a transfer to partnership form result in no shareholder gain or loss recognition on transferred money or property; and (2) treat other money or property transfers as payment for such…
What it does: CRS summary · Introduced in House · Apr 11, 2003
Requires the partnership to maintain a five-year continuity of business in order to avoid a conversion recapture tax.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Internal Revenue Code of 1986 to provide an election for a special tax treatment of certain S corporation conversions.
Latest action (Apr 12, 2003): Sponsor introductory remarks on measure. (CR E768)
Policy area: Taxation · Origin: House · Introduced: Apr 11, 2003
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.