H.R. 2814 · 108th Congress

Qualified Personal Service Corporations Clarification Act of 2003

Stage
In committee
Sponsor
Jim Nussle
Introduced
2003-07-22
Latest action
2003-07-22 · Introduced in House

Summary

Qualified Personal Service Corporations Clarification Act of 2003 - Amends the Internal Revenue Code to modify the criteria for determining whether a corporation is a qualified personal service corporation. Includes within the definition of qualified personal service corporation a qualifying corporation substantially all of whose stock is held by certain former employees (thus permitting such corporation to use the cash method of accounting).