HR 937

112th CONGRESS
1st Session

H. R. 937

To amend the Internal Revenue Code of 1986 to reduce the corporate rate of tax and to change to a more territorial method of taxing corporations.

IN THE HOUSE OF REPRESENTATIVES

March 4, 2011

Mr. SCOTT of South Carolina introduced the following bill; which was referred to the Committee on Ways and Means


A BILL

To amend the Internal Revenue Code of 1986 to reduce the corporate rate of tax and to change to a more territorial method of taxing corporations.

SECTION 1. SHORT TITLE.

SEC. 2. CORPORATE INCOME TAX RATE REDUCED TO 23 PERCENT.

SEC. 3. TEMPORARY DIVIDENDS RECEIVED DEDUCTION FOR DIVIDENDS RECEIVED BY CORPORATIONS FROM CONTROLLED FOREIGN CORPORATIONS MADE PERMANENT.

END