HR 937
112th Congress
House
Taxation
Corporate finance and management
Foreign and international corporations
Income tax deductions
Income tax rates
Interest, dividends, interest rates
Taxation of foreign income
Rising Tides Act of 2011
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 4, 2011
Referred to the House Committee on Ways and Means.
Mar 4, 2011
Introduced in House
Plain-English summary
Rising Tides Act of 2011 - Amends the Internal Revenue Code to: (1) reduce from 35% to 23% the maximum income tax rate for corporations, including personal service corporations; and (2) repeal certain requirements and limitations on the tax deduction for cash dividends received by a corporation which is a U.S. shareholder from a controlled foreign corporation and make such deduction permanent.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1