26 U.S.C. § 1352
§ 1352. Alternative tax on qualifying shipping activities
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History
Added in 2004 by the American Jobs Creation Act of 2004. Last changed October 22, 2004 by the American Jobs Creation Act of 2004.
Every change, newest first (1)
- October 22, 2004American Jobs Creation Act of 2004 · added this section
The law as written
Current through Public Law 119-102. Amendment notes omitted.
In the case of an electing corporation, the tax imposed by section 11 shall be the amount equal to the sum of—
(1)
the tax imposed by section 11 determined after the application of this subchapter, and
(2)
a tax equal to—
(A)
the highest rate of tax specified in section 11, multiplied by
(B)
the notional shipping income for the taxable year.