HR 740 · 95th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to increase the percentage limitation on the amount of the deduction allowable for charitable contributions made by corporations.

Introduced 1977-01-04· Sponsored by Rep. Archer, Bill [R-TX-7]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1977-01-04)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to increase the limitation on corporate deductions for charitable contributions to the lesser of ten percent of the corporation's taxable income, or five percent of its taxable income plus $100,000.…

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