39 U.S.C. § 3634 — Assumed Federal income tax on competitive products income
submitted 20 years ago by Pub. L. 109-435 to r/title-39-POSTAL-SERVICE · 238 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
For purposes of this section—
the term “assumed Federal income tax on competitive products income” means the net income tax that would be imposed by chapter 1 of the Internal Revenue Code of 1986 on the Postal Service’s assumed taxable income from competitive products for the year; and
the term “assumed taxable income from competitive products”, with respect to a year, refers to the amount representing what would be the taxable income of a corporation under the Internal Revenue Code of 1986 for the year, if—
the only activities of such corporation were the activities of the Postal Service allocable under section 2011(h) to competitive products; and
the only assets held by such corporation were the assets of the Postal Service allocable under section 2011(h) to such activities.
The Postal Service shall, for each year beginning with the year in which occurs the deadline for the Postal Service’s first report to the Postal Regulatory Commission under section 3652(a)—
compute its assumed Federal income tax on competitive products income for such year; and
transfer from the Competitive Products Fund to the Postal Service Fund the amount of that assumed tax.
Any transfer required to be made under this section for a year shall be due on or before the January 15th next occurring after the close of such year.
Source credit: (Added Pub. L. 109–435, title IV, § 402, Dec. 20, 2006, 120 Stat. 3226.)
- 2006Enacted · Pub. L. 109-435 · 120 Stat. 3226
A history note hasn’t been published yet. The record shows enactment by Pub. L. 109-435 on 2006-12-20.
all 0 arguments · sorted by: best
no arguments yet — make the first case