26 USC 1352 - Alternative tax on qualifying shipping activities

U.S Code last checked for updates: Nov 26, 2024

§ 1352.

Alternative tax on qualifying shipping activities

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.

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

cite as: 26 USC 1352