HR 2647 · 109th Congress · Taxation

Qualified Personal Service Corporations Clarification Act of 2005

Introduced 2005-05-26· Sponsored by Rep. Nussle, Jim [R-IA-1]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2005-05-26)

Plain Language Summary

[AI summary unavailable — showing source text] Qualified Personal Service Corporations Clarification Act of 2005 - Amends the Internal Revenue Code to modify the criteria for determining whether a corporation is a qualified personal service corporation. Includes within the definition of qualified personal service corporation a qualifying corporation substantially all of whose stock is held by certain former employees (thus permitting such corporation to use the cash method of accounting).…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (2)

2 Republicans
Rep. Ramstad, Jim [R-MN-3]MN
Rep. English, Phil [R-PA-3]PA