Liberal AssKicker
New member
...corporations!? Quote from HR3200:
‘‘SEC. 59C. SURCHARGE ON HIGH INCOME INDIVIDUALS.
‘‘(a) GENERAL RULE.—In the case of a taxpayer other than a corporation, there is hereby imposed (in addition to any other tax imposed by this subtitle) a tax equal to—
‘‘(1) 1 percent of so much of the modified adjusted gross income of the taxpayer as exceeds $350,000 but does not exceed $500,000,
‘‘(2) 1.5 percent of so much of the modified adjusted gross income of the taxpayer as exceeds $500,000 but does not exceed $1,000,000, and
‘‘(3) 5.4 percent of so much of the modified adjusted gross income of the taxpayer as exceeds $1,000,000."
List of taxpayers that ARE corporations:
Corporations
Sub-chapter "s" corporations
Banks (required corporate treatment by SEC)
Insurance companies (required corporate treatment by SEC)
Taxpayers OTHER THAN corporations:
People
Estates
LLC's
LLP's
PSC's
Partnerships
Sole proprietorships
‘‘SEC. 59C. SURCHARGE ON HIGH INCOME INDIVIDUALS.
‘‘(a) GENERAL RULE.—In the case of a taxpayer other than a corporation, there is hereby imposed (in addition to any other tax imposed by this subtitle) a tax equal to—
‘‘(1) 1 percent of so much of the modified adjusted gross income of the taxpayer as exceeds $350,000 but does not exceed $500,000,
‘‘(2) 1.5 percent of so much of the modified adjusted gross income of the taxpayer as exceeds $500,000 but does not exceed $1,000,000, and
‘‘(3) 5.4 percent of so much of the modified adjusted gross income of the taxpayer as exceeds $1,000,000."
List of taxpayers that ARE corporations:
Corporations
Sub-chapter "s" corporations
Banks (required corporate treatment by SEC)
Insurance companies (required corporate treatment by SEC)
Taxpayers OTHER THAN corporations:
People
Estates
LLC's
LLP's
PSC's
Partnerships
Sole proprietorships