To amend the Internal Revenue Code of 1986 to repeal the personal holding company tax.
Last action on May 3, 2001Referred to the House Committee on Ways and Means.
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Summary
Amends the Internal Revenue Code to: (1) repeal part II (Personal Holding Companies) of subchapter G (Corporations Used to Avoid Income Tax on Shareholders); and (2) revise provisions concerning the dividend received deduction of closely held corporations.
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