S 3594
112th Congress
Senate
Taxation
Insurance industry and regulation
Life, casualty, property insurance
Small business
Tax administration and collection, taxpayers
A bill to amend the Internal Revenue Code of 1986 to increase the alternative tax liability limitation for small property and casualty insurance companies.
Introduced: September 20, 2012
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 20, 2012
Read twice and referred to the Committee on Finance.
Sep 20, 2012
Introduced in Senate
Plain-English summary
Amends the Internal Revenue Code to expand the eligibility of certain small insurance companies (other than life insurance companies) for the alternative corporate income tax by increasing the premium limitation used to determine such eligibility to $2.025 million (from $1.2 million), with an annual inflation adjustment after 2012.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1