2012 US Code
Title 39 - Postal Service
Part IV - MAIL MATTER (§§ 3001 - 3691)
Chapter 36 - POSTAL RATES, CLASSES, AND SERVICES (§§ 3621 - 3691)
Subchapter II - PROVISIONS RELATING TO COMPETITIVE PRODUCTS (§§ 3631 - 3634)
Section 3634 - Assumed Federal income tax on competitive products income
Publication Title | United States Code, 2012 Edition, Title 39 - POSTAL SERVICE |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 39 - POSTAL SERVICE PART IV - MAIL MATTER CHAPTER 36 - POSTAL RATES, CLASSES, AND SERVICES SUBCHAPTER II - PROVISIONS RELATING TO COMPETITIVE PRODUCTS Sec. 3634 - Assumed Federal income tax on competitive products income |
Contains | section 3634 |
Date | 2012 |
Laws in Effect as of Date | January 15, 2013 |
Positive Law | Yes |
Disposition | standard |
Source Credit | Added Pub. L. 109-435, title IV, §402, Dec. 20, 2006, 120 Stat. 3226. |
Statutes at Large Reference | 120 Stat. 3226 |
Public Law Reference | Public Law 109-435 |
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(a)
(1) the term “assumed Federal income tax on competitive products income” means the net income tax that would be imposed by chapter 1 of the Internal Revenue Code of 1986 on the Postal Service's assumed taxable income from competitive products for the year; and
(2) the term “assumed taxable income from competitive products”, with respect to a year, refers to the amount representing what would be the taxable income of a corporation under the Internal Revenue Code of 1986 for the year, if—
(A) the only activities of such corporation were the activities of the Postal Service allocable under section 2011(h) to competitive products; and
(B) the only assets held by such corporation were the assets of the Postal Service allocable under section 2011(h) to such activities.
(b)
(1) compute its assumed Federal income tax on competitive products income for such year; and
(2) transfer from the Competitive Products Fund to the Postal Service Fund the amount of that assumed tax.
(c)
(Added Pub. L. 109–435, title IV, §402, Dec. 20, 2006, 120 Stat. 3226.)
References in TextThe Internal Revenue Code of 1986, referred to in subsec. (a), is classified to Title 26, Internal Revenue Code.
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