A bill to amend the Internal Revenue Code of 1954 to permit an electing small business corporation to have 35 shareholders and to issue certain additional stock.
Subchapter S Capital Formation Act of 1979 - Amends the Internal Revenue Code: (1) to increase from 15 to 100 the maximum permissible number of shareholders of a Subchapter S corporation; and (2) to allow additional classes of stock in such corporations so long as the issuance of such stock will not have any effect upon the allocation of income among the shareholders of the corporation.
Introduced in Senate
Referred to Senate Committee on Finance.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line