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Permanent S Corporation Built-in Gain Recognition Period Act of 2015
1/11/2023, 1:28 PM
Congressional Summary of HR 629
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.
Read the Full Bill
Current Status of Bill HR 629
Bill HR 629 is currently in the status of Bill Introduced since January 30, 2015. Bill HR 629 was introduced during Congress 114 and was introduced to the House on January 30, 2015. Bill HR 629's most recent activity was Placed on the Union Calendar, Calendar No. 9. as of February 9, 2015
Bipartisan Support of Bill HR 629
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
3Democrat Cosponsors
1Republican Cosponsors
2Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 629
Primary Policy Focus
TaxationPotential Impact Areas
- Accounting and auditing
- Business investment and capital
- Capital gains tax
- Securities
- Small business
- Tax administration and collection, taxpayers
Alternate Title(s) of Bill HR 629
Permanent S Corporation Built-in Gain Recognition Period Act of 2015
To amend the Internal Revenue Code of 1986 to make permanent the reduced recognition period for built-in gains of S corporations.
Permanent S Corporation Built-in Gain Recognition Period Act of 2015
Comments
Sponsors and Cosponsors of HR 629
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A bill to amend the Internal Revenue Code of 1986 to make permanent the reduced recognition period for built-in gains for S corporations.
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