2018 US Code
Title 26 - Internal Revenue Code
Subtitle A - Income Taxes
Chapter 1 - Normal Taxes and Surtaxes
Subchapter R - Election to Determine Corporate Tax on Certain International Shipping Activities Using per Ton Rate
Sec. 1352 - Alternative tax on qualifying shipping activities

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Citation 26 U.S.C. § 1352 (2018)
Section Name §1352. Alternative tax on qualifying shipping activities
Section Text

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.

Source Credit

(Added Pub. L. 108–357, title II, §248(a), Oct. 22, 2004, 118 Stat. 1450.)

Editorial Notes EFFECTIVE DATE

Section applicable to taxable years beginning after Oct. 22, 2004, see section 248(c) of Pub. L. 108–357, set out as an Effective Date of 2004 Amendments note under section 56 of this title.

Publication Title United States Code, 2018 Edition, Title 26 - INTERNAL REVENUE CODE
Category Bills and Statutes
Collection United States Code
SuDoc Class Number Y 1.2/5:
Contained Within Title 26 - INTERNAL REVENUE CODE
Subtitle A - Income Taxes
CHAPTER 1 - NORMAL TAXES AND SURTAXES
Subchapter R - Election To Determine Corporate Tax on Certain International Shipping Activities Using Per Ton Rate
Sec. 1352 - Alternative tax on qualifying shipping activities
Contains section 1352
Date 2018
Laws In Effect As Of Date January 14, 2019
Positive Law No
Disposition standard
Statutes at Large References 118 Stat. 1450
Public Law References Public Law 108-357
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