Internal Revenue Code (Title 26 U.S.C.)
26 U.S.C. § 1352
Alternative tax on qualifying shipping activities
Official textgovinfo.govlast amended
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: view the official text
Nearby sections (25 sections)
- 1312 · Circumstances of adjustment
- 1313 · Definitions
- 1314 · Amount and method of adjustment
- 1315 · [§1315. Repealed. Pub. L. 94–455, title XIX, §1901(a)(143), Oct.…
- 1321 · [§1321. Repealed. Pub. L. 94–455, title XIX, §1901(a)(144), Oct.…
- 1331 · [§§1331 to 1337. Repealed. Pub. L. 94–455, title XIX,…
- 1341 · Computation of tax where taxpayer restores substantial amount…
- 1342 · [§1342. Repealed. Pub. L. 94–455, title XIX, §1901(a)(147), Oct.…
- 1346 · [§1346. Repealed. Pub. L. 94–455, title XIX, §1901(a)(148), Oct.…
- 1347 · [§1347. Repealed. Pub. L. 94–455, title XIX, §1951(b)(12)(A),…
- 1348 · [§1348. Repealed. Pub. L. 97–34, title I, §101(c)(1), Aug. 13,…
- 1351 · Treatment of recoveries of foreign expropriation losses
- 1352 · Alternative tax on qualifying shipping activities
- 1353 · Notional shipping income
- 1354 · Alternative tax election; revocation; termination
- 1355 · Definitions and special rules
- 1356 · Qualifying shipping activities
- 1357 · Items not subject to regular tax; depreciation; interest
- 1358 · Allocation of credits, income, and deductions
- 1359 · Disposition of qualifying vessels
- 1361 · S corporation defined
- 1362 · Election; revocation; termination
- 1363 · Effect of election on corporation
- 1366 · Pass-thru of items to shareholders
- 1367 · Adjustments to basis of stock of shareholders, etc.